Do Kwon’s bail revoked by Montenegro courtroom: Bloomberg

Terraform Labs co-founder Do Kwon’s bail was revoked in Montenegro, Bloomberg reported.

A excessive courtroom in Montenegro annulled a decrease courtroom’s determination to permit Kwon to be launched on bail. He was arrested within the nation in March and stays in jail there.

A decrease courtroom had beforehand accepted Kwon’s $436,000 bail settlement, native information had reported earlier this month. Kwon was charged with utilizing a pretend passport in Montenegro, and the US and South Korea have sought to extradite the Terraform Labs boss.

TerraUSD, the stablecoin created by Terraform Labs, collapsed final spring, wiping out billions of {dollars} for traders. The incident was the primary of a collection of crises to hit crypto markets all through 2022.