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 March and charged with using a fake passport to attempt to leave the country. The country’s interior ministry says Kwon and fellow South Korean national Han Chang-joon, Terraform’s former chief financial officer, attempted to board a private flight to Dubai with false Costa Rican travel documents.
The court also agreed to release Han on a €400,000 bond, according to Pobjeda. The prosecution has three days to appeal the decision.
TerraUSD, the stablecoin created by Terraform Labs and often known by its ticker, UST, collapsed a year ago this week — wiping out tens …