it's crazy outhere,it's always important to do your research,Government lawyers said Kwon’s actions had a “devastating” impact, with some victims taking their own lives and families falling apart as a result of the losses. The court heard from victims, including a 58-year-old woman who said she invested $81,000 in the luna token and lost all but $13 of it. She said she was now homeless and living on the streets in Tbilisi, Georgia. Kwon gained notoriety for publicly ridiculing critics of his company’s so-called algorithmic stablecoin, which was designed to maintain a value of $1 using complex crypto-financial engineering. He once boasted that Terra “will remain stable until the age of man expires”. The group’s failure in May 2022 cost hundreds of thousands of investors more than $40bn, prosecutors said. It also set into motion a cascade of failures across the crypto market that culminated in the collapse of Sam Bankman-Fried’s exchange FTX and the onset of a “crypto winter” that extended into early 2023.
