Terraform Labs co-founder Do Kwon is set to be freed from jail pending trial after a court in Montenegro accepted a €400,000 ($436,000) bail, according to a report in local news site Pobjeda.
Kwon was arrested in Montenegro in April and charged with using a fake passport to attempt to leave the country.
TerraUSD, the stablecoin created by Terraform Labs and often known by its ticker, UST, collapsed in May last year — wiping out tens of billions of dollars for investors.
The prosecution has three days to appeal the decision.
This is a breaking story and will be updated.
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Source: https://www.theblock.co/post/230575/do-kwon-bail?utm_source=rss&utm_medium=rss