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Trump’s Surprise Move Sparks Speculation – Will Terra’s Do Kwon Be the Next Recipient of Presidential Mercy?
In a shocking turn of events, former President Donald Trump has granted clemency to three top executives from the cryptocurrency exchange BitMEX, clearing their records of criminal charges. The unexpected move has sent shockwaves throughout the crypto community, leaving many wondering if similar leniency could be extended to Terra’s embattled founder Do Kwon.
For those unfamiliar with the backstory, it was only last year that Arthur Hayes, Benjamin Delo, and Samuel Reed – all co-founders of BitMEX – agreed to plead guilty to violating U.S. banking laws by failing to prevent their platform from being used for illicit activities. While they had initially denied any wrongdoing, the trio ultimately settled with prosecutors by paying a substantial $30 million fine and serving respective prison sentences.
The dramatic change in trajectory could not have come at a more crucial moment, considering the ongoing legal battle between Terra and the Securities and Exchange Commission (SEC). As many know, Do Kwon is facing a slew of charges related to his role as the visionary behind the now-defunct stablecoin UST. The saga has already sparked heated debate about the SEC’s handling of cryptocurrencies.
The pardon granted to BitMEX co-founders raises eyebrows regarding the potential implications for Terra’s founder. This development comes on the heels of another significant event – the SEC dropping charges against Hailey Welch, an influencer accused of promoting a crypto asset in violation of securities laws. Some industry experts have begun drawing parallels between these two cases.
“This unexpected pardon is a strong indication that Trump may be willing to take a more relaxed approach to regulating cryptocurrencies,” noted veteran crypto analyst Peter Schiff. “The writing on the wall suggests Do Kwon might not be completely out of the woods just yet, but it does open up the possibility for a softer stance from the administration.”
Given this new context, some have begun speculating about the potential consequences for Terra’s embattled leader. Although Trump has not explicitly stated his intentions regarding Do Kwon, the unprecedented move could pave the way for more lenient policies toward cryptocurrencies.
As we continue to monitor the unfolding situation, one thing is clear: the crypto world is on high alert. Should the administration take a more sympathetic view of these digital assets, it would have far-reaching implications not only for Terra but also for the broader cryptocurrency sector as a whole.
In conclusion, this unexpected development has set tongues wagging about what might be in store for Do Kwon and others who are currently facing legal scrutiny.
Source: https://coinpedia.org/news/trump-pardons-bitmex-founders-is-do-kwon-next/
