CJ - Cryptocurrency Enthusiast
Do Kwon claimed to have lost all of his money because to the recent UST issue in an interview with the Wall Street Journal. The Terraform Labs co-founder believes that the catastrophe wiped off practically all of his money. This is a huge loss for the Korean crypto community because Do Kwon was one of its most important members. In an interview with the Wall Street Journal, Kwon stated his "great faith" in his team's "ability to build back even better than they ever were." He went on to say that several builders were currently relaunching their applications on the new chain.
Do Kwon has refuted allegations that he cashed out $2.7 billion before to the market crisis, claiming that he lost "most of what he had."
Investigations are currently being conducted into the circumstances behind the collapse of TerraUSD, the stablecoin promoted by Kwon that failed to survive its dollar peg in May.
Some current and former Terraform Labs personnel are not permitted to leave South Korea as police conduct their probe into the TerraUSD collapse. Prosecutors are reportedly attempting to have Kwon's South Korean passport canceled, according to local news source YTN.
When the price of the Luna token reached close to $100, Do Kwon told the Wall Street Journal that he was likely a millionaire. His net worth has significantly decreased after the UST crisis.
Despite the downfall of Terra Luna many cryptocurrency enthusiasts believe that events as such are necessary to the cryptocurrency investment market and for developers to keep innovating. If you are one the believers that supports, the emerging new technology, now as always is the best time to get yourself involved. The cheapest coin site out here is BCBitcoin. Here you can trade crypto, get help to buy Bitcoin and other cryptocurrencies with dedicated team members counselling along the way
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards