As a crypto investor with some experience under my belt, I find the recent revelation about Montenegrin Prime Minister Milojko Spajić’s investment in Terraform Labs deeply concerning. This news comes at a time when Do Kwon, the notorious crypto entrepreneur behind Terraform Labs, is facing extradition proceedings for alleged fraud charges.
In an unexpected turn of events, a court filing has disclosed that Montenegrin Prime Minister Milojko Spajić made an early investment in Terraform Labs. This bombshell news has caused ripples through the political and cryptocurrency spheres. The disclosure follows closely on the heels of Terraform Labs reaching a settlement with the US Securities and Exchange Commission (SEC) over allegations of a $40 billion fraud against the company. Prime Minister Spajić, who assumed office in October 2023, is now at the heart of this developing scandal, as his investment ties him to notorious crypto entrepreneur Do Kwon.
Crypto Ties: Montenegrin PM Invested In Terra Luna
As a crypto investor, I came across an intriguing piece of news from Montenegrian media outlet Vijesti. The report revealed that I, in my individual capacity as a investor, was among the earliest supporters of Terraform Labs. In April 2018, I invested $75,000 to secure 750,000 Terra (LUNA) tokens for myself, making me the 16th largest initial investor in this project. This investment took place during the preliminary funding phase of the crypto project that unfortunately faced failure after a four-year run.
A financial authority speaking to Vijesti revealed that Spajić bought LUNA tokens at a very low price of only 10 cents apiece, which is a typical move in early-stage investing given the significant risk involved. The fundraising event during this time raised approximately $13.75 million within two days, with contributions coming from 14 individual investors and 10 companies.
The value of LUNA token soared to a peak of $119 in the initial months of 2022, but it subsequently nosedived close to zero following the failure of the associated crypto project. If Spajić hadn’t disposed of his holdings prior to the market downturn, his possible losses would have been approximately $90 million – a testament to the token’s extreme price fluctuations.
The consequences of these disclosures for the political arena are considerable, particularly considering the ongoing legal issues faced by Do Kwon. At present, Kwon, who is situated in Montenegro, is wanted by both the United States and South Korea for allegedly orchestrating a major fraud scheme.
As an analyst, I’ve come across intricate layers to Spajić’s role in the situation that surpass monetary damages. Previously, he asserted that it was his former employer who suffered from Terraform Labs’ deceit, not him personally. However, recent revelations of his personal investment contradict this account and cast doubt on both his financial reporting and ethical behavior during tenure.
As a crypto investor following the developments surrounding Spajić, I’ve noticed that he has kept quiet about any personal financial losses he may have suffered during the Terraform debacle. In interviews with the media, he has shifted the focus to the financial consequences his company has experienced instead. The Prime Minister’s office and the Government Public Relations Service have not yet clarified the specifics of Spajić’s investments in Luna tokens or his current holdings.
As a researcher investigating the matter surrounding Spajić’s regulatory compliance, one point of contention arises regarding his failure to disclose LUNA tokens in his financial declarations to the Agency for the Prevention of Corruption. According to Vijesti’s report, Spajić had previously reported ownership of cryptocurrencies like Bitcoin and Ethereum but omitted mentioning LUNA specifically.
The absence of clear information about Spajić’s investments in Terraform Labs before regulatory probes raises major red flags regarding transparency and possible conflicts of interest. The confusion surrounding his disclosures, combined with recent court documents unveiled in the US, create a intricate portrait of Spajić’s financial and political connections to the crypto sphere.
At press time, Terra Luna Classic (LUNC) traded at $0.000090870.
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- Best Goomba Characters In Mario Games, Ranked
- USD RUB PREDICTION
- BCH PREDICTION. BCH cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- ETHW PREDICTION. ETHW cryptocurrency
- ALPINE PREDICTION. ALPINE cryptocurrency
- Destiny 2 Player Transforms Their Warlock Into Team Fortress 2’s Medic
2024-06-19 20:41