Crypto founder Do Kwon not in Singapore, say police

SINGAPORE, Sept 18 — Do Kwon, the South Korean founder of the failed cryptocurrency Terra, is not in Singapore as had been believed, the city-state's police said late yesterday, raising questions about his whereabouts.

But late Saturday, the Singapore Police Force said in an email response to an AFP query that"Do Kwon is currently not in Singapore". The newspaper said Kwon has apparently applied to renew his pass, but moves by South Korean authorities to invalidate his passport may have jeopardised the renewal. Stablecoins are designed to have a relatively stable price and are usually pegged to a real-world commodity or currency.

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