CryptoQuant CEO Questions U.S. Justice System in Do Kwon Settlement

IconCryptoNewsTerminal Staff14 Jun, 2024

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CryptoQuant CEO Questions U.S. Justice System in Do Kwon Settlement

CryptoQuant CEO Ki-Young Ju has criticized the U.S. justice system over the recent settlement between Do Kwon and Terraform Labs. In comments reported by Cointelegraph, Ju questioned how Terraform Labs could have obtained $4.5 billion "without committing financial crimes." "The U.S. prioritizes government settlements over the law," he said. "Which means the U.S. justice system has failed." Ju also took aim at the U.S. government's seizure of the proceeds of Kwon's alleged crimes, saying that it intends to take the money into the national treasury without compensating victims worldwide. "Do Kwon is a Korean citizen," Ju added. "But the U.S. acts as the world's police, taking money from international citizens and keeping it for themselves." As previously reported, the U.S. Securities and Exchange Commission (SEC) and Terraform Labs settled for $4.47 billion, which was approved by a U.S. court. Ju's comments highlight the ongoing debate over the role of the U.S. in regulating the global cryptocurrency market. Some argue that the U.S. is overreaching its authority, while others believe that it is essential for the U.S. to take a leadership role in protecting investors.

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