Uh Oh! More legal trouble for Do Kwon in South Korea, Goldman Sachs to invest in crypto, and more in our Hodler's Digest.
DEI, an algorithmic stablecoin of the Deus Finance project, declined to $0.52 earlier this week. The asset was meant to hold value on par with $1. However, DEUS, the project’s governance token, increased significantly in price, reaching $327.28 at one point, up from $163.40. The DEI price collapse came after the protocol experienced two flash loan attacks in recent months. Fears of a UST-style bank run on the asset also compelled Deus Finance developers to pause DEI redemptions.
This is not the first time Terraform Labs has raised red flags on tax evasion. The company first appeared on tax authorities’ radar in June 2021 on suspicions of corporate and income tax evasion.The Discord channel for GameFi NFT project Axie Infinity saw its MEE6 bot compromised this week. Among its wrongful actions, the apprehended bot put out an untrue minting announcement. MEE6 bot takeovers are reportedly nothing new.
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Terraform Labs has no tax liabilities in Korea, Do Kwon saysKwon said he was happy to engage with any lawsuit or regulatory inquiry.
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