As a researcher with a background in finance and experience investigating high-profile financial cases, I find Spajić’s involvement in Terraform Labs’ initial fundraising phase intriguing. The SEC documents reveal that he invested a significant amount of money, $75,000, acquiring 750,000 Luna tokens at a low price during the project’s early stages.
Based on a current findings, Montenegrian Prime Minister Milojko Spajić is among the initial backers of Terraform Labs.
SEC court records disclose that Spajić purchased $75,000 worth of Luna tokens in April 2018, resulting in ownership of approximately 750,000 tokens. At their maximum value, these tokens were assessed at a staggering $90 million.
Spajić Faces Potential $90 Million Loss
As a researcher examining the available documents, I’ve discovered that I was the sixteenth individual to invest during Terraform Labs’ early fundraising campaign. This investment transpired when Terraform was actively seeking capital to foster their cryptocurrency project, which unfortunately met its demise in 2022, resulting in substantial losses surpassing $40 billion for investors globally.
In the year 2018, Spajić secured a deal with Terraform Labs on the opening day of their fundraising campaign. He obtained Luna tokens at an exceptionally low cost of only $0.10 per token. Although early-stage investments come with substantial risks, this was the most affordable price available during subsequent funding rounds.
According to SEC filings, 14 people and 10 corporations collectively donated around $13.75 million towards the project’s early-stage funding for its development and research.
In the spring of 2022, Terraform’s Luna token experienced a catastrophic crash, causing its value to freefall from a high of $119 to almost nothing. This unexpected turn of events resulted in substantial financial losses for investors. Amidst the ensuing scandal, Spajić insisted that it was Terraform who had been defrauded of the investment, rather than himself personally.
As a financial analyst, I would interpret the information shared by Vijesti’s interviewees as follows: Based on my assessment of the situation, if Spajić had held onto his tokens during the market peak in early 2022, he would have incurred significant losses close to $90 million when the token values drastically dropped.
Spajić Failed to Report Luna Holdings
As a crypto investor looking back at the past disclosures, I notice that Spajić failed to mention Luna tokens in his 2020 and 2021 reports submitted to the Anti-Corruption Agency. Instead, he reported owning €150,000 worth of Bitcoin. In subsequent filings, he listed several cryptocurrencies but did not provide their respective values.
As a crypto investor following the news closely, I’m unsure if I, like Spajić, requested Do Kwon to refund my investment or make up for losses. If such action was taken, the exact amount remains a mystery. Additionally, it is unclear if I initiated legal action against Terraform Labs and Kwon for alleged fraud, as these details were not disclosed in available reports.
As a researcher looking into the developments surrounding Terraform Labs and Do Kwon, I’ve uncovered some significant updates. The Securities and Exchange Commission (SEC) has taken action against the company and its CEO for defrauding investors. The settlement mandates Terraform Labs to pay a hefty fine and interest amounting to $4.37 billion. Additionally, Do Kwon is required to contribute $200 million to an investor compensation fund. Currently, Kwon is in detention in Montenegro, with potential extradition looming to either the United States or South Korea for trial proceedings.
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2024-06-20 01:26