In a surprising turn of events, Do Kwon, the former fugitive and founder of Terraform Labs, has been granted bail once again, with a bail amount set at 400,000 euros. A Montenegrin court recently made the decision, allowing Kwon temporary freedom until his next hearing scheduled for June 16. The news of his release has sparked a flurry of online commentary, with some speculating about potential connections between Kwon’s bail and the recent charges filed by the Securities and Exchange Commission (SEC) against Binance. However, it is important to note that such rumors lack credibility and fail to address the serious legal challenges faced by Kwon.
The Legal Twists and Turns:
This is not the first time Kwon’s legal saga has taken unexpected turns. Just a week ago, the Higher Court in Podgorica overturned a lower court’s decision to grant bail to Kwon and his former chief financial officer, Han Chang-joon. However, the authorities have now reinstated the same bail amount, coupled with strict conditions that require the defendants to remain inside an apartment under police monitoring. Violating the rules or attempting to escape would result in the forfeiture of their bail money. Furthermore, the decision can still be appealed by the dissatisfied party within a three-day period.
Kwon’s Controversial Figure:
While the recent bail may provide temporary relief for Kwon, the Terraform Labs founder remains a divisive figure. Online critics have wasted no time expressing their opinions. One Twitter commentator even drew comparisons between Kwon and another crypto platform founder, Sam Bankman-Fried, both facing legal challenges. These critics accuse Kwon and Bankman-Fried of being “scammers and usurpers who have not yet been prosecuted.” In the same vein, concerns have been raised about Changpeng Zhao (CZ), CEO of Binance, who is constantly being sued and targeted with FUD (Fear, Uncertainty, and Doubt) campaigns.
Speculations Linking Kwon’s Bail to SEC Charges:
In the world of cryptocurrencies, conspiracy theories are not uncommon, and the recent developments surrounding Kwon’s bail are no exception. Speculation linking Kwon’s release to the SEC’s announcement of 13 charges against Binance has gained traction on social media platforms. One Twitter user pointed out the coincidence of Kwon’s bail and the SEC’s action, prompting further discussion among online commentators. However, it is essential to note that these theories lack substantiation and fail to acknowledge the separate charges Kwon faces, including passport fraud in Montenegro, as well as serious allegations in the United States and South Korea relating to multi-billion dollar crypto asset fraud.
The Lingering Legal Issues:
Despite the recent attention and speculation surrounding Kwon’s bail, it is crucial to remember that he is still confronted with a range of legal challenges. These include the allegations of passport fraud in Montenegro and the outstanding warrants in the United States and South Korea, related to significant crypto asset fraud involving billions of dollars. Furthermore, the recent SEC charges against Binance, while coinciding in time, remain separate legal matters.
Conclusion:
Do Kwon’s legal journey has taken yet another surprising turn with his recent bail being granted by a Montenegrin court. However, amidst the speculation and online theories linking his release to the SEC’s charges against Binance, it is important to distinguish between separate legal issues. Kwon’s legal troubles are far from over, with serious allegations and warrants pending against him in multiple countries. As the saga continues, it remains to be seen how these legal proceedings will unfold and impact the cryptocurrency community at large.
