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Do Kwon’s Release on Bail a Second Time Prompts Wild Speculation

Press Releases Crypto News BeInCrypto Do Kwon’s Release on Bail a Second Time Prompts Wild Speculation

Do Kwon has reportedly won release again, with bail set at 400,000 euros. A Montenegrin court granted him bail until his next hearing on June 16. The developments set off a flurry of fevered online commentary. Speculation and online theories go so far as to link Kwon’s bail to the SEC’s new charges against Binance. But such rumors lack credibility.

The former fugitive’s legal saga has taken many twists and turns. This marks the second time in as many weeks that we’ve heard the news.

Do Kwon Gets a Break

On May 24, the Higher Court in Podgorica canceled the initial decision of a lower court that accepted a bail of 400,000 euros ($468,000) each for the two defendants, Do Kwon and Han Chang-joon. The latter is Kwon’s former chief financial officer.

Now the authorities have reached a new decision, allowing the same bail amount and ordering the defendants to stay inside an apartment with police monitoring. If the duo break the rules or try to escape, they will lose the bail money. The unsatisfied party can appeal the decision within three days.

The court granted Kwon bail until his next hearing on June 16.

However, while Kwon may temporarily be resting easy, the founder of Terraform Labs is still a divisive figure. Online critics were quick to weigh in. One furious Twitter commentator compared the South Korean to another crypto platform founder with legal woes, Sam Bankman-Fried.

“They are scammers and usurpers who have not yet been prosecuted,” the commentator said. “And CZ is currently the CEO of the largest and most prestigious exchange, constantly being sued by FUD. Damn these bugs.”

Twitter Speculates About Binance-Kwon Link

Some might view the developments as just the latest stages in a tedious legal drama. However, It wouldn’t be crypto without some conspiracy theorizing. Another Twitter user tried to

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Author: Josh Adams

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