An independent audit shows the Luna Foundation Guard spent $2.8B in crypto and Terraform Labs spent $613M trying to defend the UST stablecoin in May 2022 (Oliver Knight/CoinDesk)

Hooyeon Kim / Bloomberg:
A South Korean court issues an arrest warrant for Terraform Labs founder Do Kwon and five others located in Singapore, following the collapse of LUNA and UST  —  A court in South Korea issued an arrest warrant for Do Kwon, the founder of the Terraform Labs cryptocurrency ecosystem …

Sangmi Cha / Bloomberg:
South Korea says Interpol has issued a Red Notice for Terraform Labs co-founder Do Kwon; prosecutors say Kwon disappeared from Singapore after September 17  —  South Korea said Interpol requested law enforcement worldwide to locate and arrest Terraform Labs co-founder Do Kwon …

Song Jung-a / Financial Times:
Inside the UST Restitution Group, an association of ~4,400 crypto investors trying to track down Do Kwon’s whereabouts, who share their findings on Discord  —  UST Restitution Group is trying to track down Do Kwon after the crash of his terraUSD and luna coins

Jamie Crawley / CoinDesk:
Binance will stop supporting the world’s second biggest stablecoin USDC and convert users’ USDC, USDP, and TUSD into its own stablecoin BUSD on September 29  —  The action effectively removes the world’s second biggest stablecoin USDC as a tradeable asset on Binance’s platform.

Nansen:
An in-depth look at FTX and Alameda shows UST’s collapse in May increased their reliance on FTT, leading to $4B outflows from Alameda to FTX in June and July  —  mins  —  Nansen’s research team dives into the collapse of Alameda and FTX using blockchain analytics  —  Key Takeaways

Song Jung-a / Financial Times:
South Korean prosecutors ask Interpol to issue a red notice for Do Kwon and the government to revoke his passport; Kwon denies being “on the run”  —  Fallen crypto developer denies he is ‘on the run’ from investigators  —  South Korean prosecutors have asked Interpol to issue …