There is News from Terra (LUNA) Founder Do Kwon, whose fate is uncertain

Do Kwon, founder of Terraform Labs and developer of LUNA and TerraUSD, is opposing attempts by the US Securities Exchange Commission (SEC) to extradite him to the US for questioning regarding bankrupt stablecoin projects.

Kwon’s lawyers filed a lawsuit Wednesday asking the federal court to order Terraform Labs’s crypto coins He asked him to reject a request to question him in the US about the catastrophic collapse of UST and LUNA.

The document was filed in the U.S. District Court for the Southern District of New York.

Kwon’s legal team opposes any opportunity for him to testify to US regulators. They argue that it is “impossible” to bring Kwon, who is detained indefinitely in Montenegro, to the United States. They also stated that Kwon could not provide written testimony to the SEC because that would violate his due process rights under U.S. law.

“An order mandating something that is impossible serves no practical purpose and risks undermining judicial authority,” Kwon’s lawyers said in their application.

Last week, the SEC asked the court for permission to meet with Kwon about the Terra (LUNA) collapse before the October 13 discovery deadline in the case.

*This is not investment advice.

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