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A Closer Look at Do Kwon and Terraform Labs: The Hidden Story Behind the “Codokoj22” Company in Serbia

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According to reports from the Serbian Commercial Registry, a few weeks after receiving a red wanted warrant from Interpol, Do Kwon, the co founder of Terraform Labs, established a

A Closer Look at Do Kwon and Terraform Labs: The Hidden Story Behind the Codokoj22 Company in Serbia

According to reports from the Serbian Commercial Registry, a few weeks after receiving a red wanted warrant from Interpol, Do Kwon, the co founder of Terraform Labs, established a company in Serbia called “Codokoj22 d.o.Beograd” for less than $1. Its main business activities are listed as advisory services. （Cointelegraph）

Do Kwon once spent less than $1 to set up a company in Serbia

As the cryptocurrency industry continues to grow and expand, so does the number of controversies surrounding it. In recent news, Do Kwon, the co-founder of Terraform Labs – a blockchain network based on the Cosmos ecosystem – has been the topic of discussion. Reports from the Serbian Commercial Registry have revealed that Kwon established a company in Serbia under the name “Codokoj22 d.o.Beograd” for less than $1, just a few weeks after receiving a red wanted warrant from Interpol. The new company’s main business activities are listed as advisory services. In this article, we will take a closer look at the hidden story behind “Codokoj22” and its potential implications.

Who is Do Kwon?

Before delving into the details of Kwon’s new company, it is important to understand who he is and his significance within the cryptocurrency industry. Kwon is a South Korean entrepreneur who co-founded Terraform Labs in 2018, along with Jae Kwon. Terraform Labs is the creator of the Terra network, a decentralized stablecoin that uses a basket of cryptocurrencies as collateral. The project has gained significant popularity and has raised more than $30 million in funding from prominent investors, including Binance, Arrington XRP Capital, and OKEx.
However, Kwon’s recent run-in with Interpol has brought his reputation into question. The warrant was issued in connection with an investigation into an alleged $25 million fraud case. According to the warrant, Kwon was accused of being involved in a scam in which investors were promised high returns, which were never paid out. Kwon has since denied the accusations and claimed that the legal dispute was a result of a business partnership gone wrong.

Codokoj22 d.o.Beograd: What is it, and Why Serbia?

With Kwon’s legal troubles in full swing, the revelation of the company in Serbia has sparked more than a few questions. Codokoj22 d.o.Beograd was established on June 11, 2021, with Kwon listed as the founder and sole owner. The company’s primary business activity is listed as “advisory and consulting services,” but beyond that, very little is known about it.
Serbia may seem like an unusual choice for Kwon to establish his new company, given his Korean origin and the fact that Terraform Labs is headquartered in the United States. However, the country has recently been hailed as a new hub for blockchain technology, with a friendly regulatory environment and a low corporate tax rate of 15%.

The Implications of Codokoj22

The establishment of Codokoj22 d.o.Beograd has raised more than a few eyebrows, particularly within the cryptocurrency community. Some have speculated that the new company could be a way for Kwon to continue operating his business while evading Interpol’s warrant. Others have suggested that it could be a strategic move to expand Terraform Labs’ presence in Europe or explore new business opportunities.
Regardless of the company’s intentions, the implications of Codokoj22 d.o.Beograd are significant. It highlights the fact that cryptocurrency businesses are increasingly looking to operate in countries with favorable regulatory environments and low taxes. It also raises questions about the effectiveness of Interpol’s authority in international business cases.

Conclusion

The true motivations behind Do Kwon’s establishment of Codokoj22 d.o.Beograd may never be fully known. But what we do know is that the move has raised more than a few eyebrows, especially considering Kwon’s ongoing legal troubles. It serves as a reminder that the cryptocurrency industry is constantly evolving and adapting, and it will continue to do so as regulators and law enforcement agencies struggle to keep up. As always, it is crucial to remain vigilant and informed about the latest developments in the industry.

FAQs:

1. What is Terraform Labs, and why is it significant in the cryptocurrency industry?
Terraform Labs is a blockchain network based on the Cosmos ecosystem, which created the Terra network, a decentralized stablecoin. It has gained significant popularity and has raised more than $30 million in funding from prominent investors, including Binance, Arrington XRP Capital, and OKEx.
2. What is the regulatory environment like for blockchain technology in Serbia?
Serbia has recently been hailed as a new hub for blockchain technology, with a friendly regulatory environment and a low corporate tax rate of 15%.
3. What are the potential implications of Do Kwon’s establishment of Codokoj22 d.o.Beograd?
Codokoj22 d.o.Beograd highlights the fact that cryptocurrency businesses are increasingly looking to operate in countries with favorable regulatory environments and low taxes. It also raises questions about the effectiveness of Interpol’s authority in international business cases.

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