Bonk rises 200% in week while Terra founder Do Kwon is probably going to US prison

0

Last Updated on 4 March 2024 by CryptoTips.eu

Bonk, Solana’s memecoin, continues to rise in price and volume. It has now reached the top 100 of CoinMarketCap. In the past week, Bonk (we already told you about this little memecoin two weeks ago) added another 200% to its price. Whether it is smart to invest in a memecoin (very volatile) is not for us to decide, but as long as Solana rises, Bonk apparently rises faster. Where will this end?

After the conviction of Sam Bankman-Fried and the launch of the court case against the Winklevoss twins, Bitcoin started an incredible rally during the months of November and December. Altcoins followed suit as well.

Analysts have explained that with the conviction of SBF (and the billion dollar fine for Binance), the American judiciary was able to turn the page and crypto could again be labeled as ‘ok to invest’ by Wall Street.

It looks like there’s another very big fish coming over to a US court that could make for further interesting argument.

Do Kwon, the founder of Terra and Luna, the two crypto coins that went bankrupt in 2022 and left behind a hole of some 40 billion, should appear in court in the United States soon.

It that happens, it is likely he’ll have to spend the rest of his days in an American prison.

Advertentie.

Dubai

Terra CEO Do Kwon was arrested at Podgorica airport on March 23 this year, just before taking a private flight to Dubai.

Kwon managed to stay out of the hands of the law for a long time, but was eventually arrested in Montenegro. Two countries have been asking for his extradition for months because of the $40 billion drain that triggered the bankruptcy of his crypto platform: South Korea and the United States.

Since he risks a much longer prison sentence in the United States, Do Kwon’s legal team tried for a long time to arrange an extradition to South Korea.

According to an exclusive report in the Wall Street Journal, the highest judicial authority in Montenegro (which is likely to want to impress the White House) is considering extraditing Kwon to the United States.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts