CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Wall Street Rebounds as Investors Eye Tariff Uncertainty, Jobs Report 
Tech Stocks Rally in Asia-Pacific as Dollar Remains Resilient 
Investors value green labels — but not always for the right reasons 
Do investment tax breaks work? A new study finds the evidence is ‘mixed at best’ 
Insignia Financial Shares Hit 3-Year High Amid Bain and CC Capital Bidding War 
Why your retirement fund might soon include cryptocurrency 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Tempus AI Stock Soars 18% After Pelosi's Investment Disclosure 
Terraform Lab's co-founder and chief executive officer, Kwon Do Hyung, who is widely known as Do Kwon, is facing detention after South Korea issued an arrest warrant this week. The law enforcers were instructed to pick him up for a case related to the collapse of the Luna and the TerraUSD cryptocurrencies.
CNN Business reported that it was a South Korean court that handed down the arrest warrant for Do Kwon, who is also the primary developer of the said cryptocurrencies that suddenly
crumbled big time in May. The collapse affected the crypto markets around the world and sent the values of crypto spiraling down.
For what happened to Luna and TerraUSD, Do Kwon was accused of fraud by investors of Terra Labs. The executive was contacted for comments but was not able to send an immediate response.
His arrest warrant comes after more than three months of investigation. As part of the probe, his offices and crypto exchange platforms were searched, and documents were seized to check if the allegations are true as well as see if there had been irregularities with the company's operations.
"An arrest warrant has been issued for a total of six people, including Do Kwon, who is currently residing in Singapore," the prosecutor's office's spokesperson said on Wednesday to confirm the news.
Elliptic, a blockchain analytics company, said that investors of Luna and TerraUSD lost a staggering estimated amount of $42 billion after the collapse. Confusion in the crypto market quickly ensued due to the failure, and this also led to the fall of several other major crypto firms, such as Celsius, a US-based crypto lender, and Singapore's Three Arrows Capital crypto fund manager.
Meanwhile, CNBC reported that the bankruptcy of the Terraform Lab platform four months ago has caused combined losses of around $60 billion between UST and Luna, its sister cryptocurrency. UST or TerraUSD is a controversial stablecoin that was once listed in the top 10 cryptocurrencies in the world based on market value which was why its fall has caught many people by surprise.
