Last updated: 19.06.2024 – 17:35
Nietzsche famously said: “I’m not sorry that you lied to me, I’m sorry that I won’t believe you anymore.” The news I will share with you today reveals once again how true this statement is. A development that emerged today in the cryptocurrency world had the effect of a bombshell. This interesting incident is about Montenegrin Prime Minister Milojko Spajic. Allegedly, Prime Minister Spajic is among the first investors of Terraform Labs. This investment took place just days before the company was registered in Singapore on April 23, 2018.
SEC Announced that Montenegrin Prime Minister Was One of Terra’s First Investors
According to the statement made by the United States Securities and Exchange Commission (SEC), Spajic purchased 750,000 Terra (LUNA) tokens by investing $75,000 in April 2018, before taking office in October 2023. This investment took place just a few days before the company was founded. According to SEC court documents, Spajic signed a contract with Terraform Labs on April 17, 2018, becoming an early investor in the company.
Montenegrin Prime Minister’s Claims and Facts
Before the court documents were made public, the Prime Minister of Montenegro claimed that he had never personally invested in the failed crypto project. Spajic stated that he worked for a Singapore-based company called Das Capital SG between 2017 and 2020, and that this company invested in Terraform Labs. However, SEC documents revealed that he was ranked 16th on the list of investors and was one of the company’s original investors with an agreement dated April 17, 2018.
40 Billion Dollar Terraform Journey
Terraform Labs suffered its final collapse in May 2022. The company supported cryptocurrencies such as Terra (LUNA) and TerraUSD and caused approximately $40 billion to be deleted from the crypto market. The collapse of Terra caused great damage to the crypto ecosystem and led to the collapse of many crypto hedge funds. Do Kwon, co-founder of Terraform Labs, was arrested in Montenegro in March 2023 after being found guilty of defrauding investors.
New documents have revealed a direct contract between the current Prime Minister of Montenegro and Terraform Labs. This situation seems to lead to a new scandal as the Prime Minister did not disclose his investment in the project and lied about it. Recalling Nietzsche’s words, the cryptocurrency world was saddened not by the lie of the Prime Minister of Montenegro, but by the fact that they would not believe his words from now on.
