SEC clamps down on Coinbase and Tron, while Do Kwon is arrested overseas – By Jacquelyn Melinek (Techcrunch) / Mar 23 2023
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Welcome back to Chain Reaction.
It was a big week in the crypto world as the U.S. Securities and Exchange Commission clamped down on major crypto companies like Coinbase and Tron — more on that below — and Do Kwon, the founder of Terraform Labs, has reportedly been arrested in Montenegro, according to a local government official.
On Thursday morning, Filip Adzic, the minister of interior of Montenegro, tweeted in Bosnian that Kwon was arrested at the airport in Podgorica, the capital of Montenegro, with falsified documents.
Kwon has been under investigation for the past 11 months since the Terra/LUNA collapse, which wiped out about $40 billion from the cryptocurrency market.
