ARKHAM INTELLIGENCE REVEALS CRYPTO HOLDINGS AND ACTIVITY OF TERRAFORM LABS AND FOUNDER DO KWON
Arkham Intelligence, a crypto data provider, has disclosed crucial information regarding the crypto holdings and wallet activity of Terraform Labs and its founder, Do Kwon. The data was submitted by renowned crypto analyst ErgoBTC as part of the Arkham Intel Exchange.
Main Breakdowns:
- Terraform Labs and Do Kwon hold $161.27 million in crypto assets but have suffered a cumulative loss of $61 million.
- Terraform Labs’ largest holding is 5.292K BTC valued at $154.20 million.
- They also hold significant amounts of ETH, CVX, GOHM, USDT, BUSD, and USDC.
- Noteworthy transactions include sending OPEN tokens valued at $123 to a null address and a whale movement of 5,292 BTC worth $162.5 million.
- Balance on the wallets peaked at over $955 million in March 2022 but declined drastically following the Terra ecosystem implosion.
Additionally, Arkham Intelligence’s data reveals that Terraform Labs has witnessed total deposits of $1.70 billion and total withdrawals of $1.12 billion since November 2020. Binance has been heavily relied upon for most transactions, accounting for 70% of deposits and 71% of withdrawals.
Do Kwon’s current legal challenges have sparked interest and speculation within the crypto community. The recent disclosure comes shortly after his lawyers filed a supplementary document leveraging the recent XRP victory in the SEC case to dismiss the agency’s lawsuit against Kwon.
Hot Take:
The disclosure of Terraform Labs’ crypto holdings and wallet activity sheds light on the internal financial management of the organization. With significant losses on their holdings and ongoing legal challenges, Do Kwon and Terraform Labs face uncertain times ahead. The crypto community will be watching closely to see how these developments unfold.
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