It was revealed that at the time of establishment of Terraform Labs, the issuer of Terra (UST) and Luna (LUNA), the capital was only $2 in Singapore dollars.
According to related documents obtained by JTBC on the 30th, at the time of the establishment of Terraform Labs, CEO Kwon Do-hyung and other co-founders each paid $1 in Singapore dollars, for a total of $2 in capital. This is less than 2,000 won in our money.
In addition, an official from a building in Singapore where Terraform Labs is known to be located said, “The office has never been operated.”
In response, experts pointed out that it is necessary to confirm that Terraform Labs is not an offshore company with a structure that makes it difficult to invest in blockchain technology development.
Hwa-in Choi, a virtual asset (cryptocurrency) expert, said, “(Teraform Labs) did (business) only with financial products, not technology.”
Photo = Tera YouTube capture
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Reporter Doo-Hyun Hwang, BloomingBeat cow5361@bloomingbit.io
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