Summary

Milojko Spajic, the Prime Minister of Montenegro, is facing controversy over his prior investment in Terraform Labs, a collapsed crypto firm. He was ranked 16th among 81 early investors and had purchased 750,000 Luna coins.

Introduction

The involvement of Prime Minister Milojko Spajic in a collapsed crypto firm has raised concerns, with reports revealing his connection to the SEC and illegal political funds provided before an election.

Main Points

The report disclosed Spajic’s purchase of 750,000 Luna coins at 10 cents each, which soared to $119 in 2022 before becoming worthless. The collapse of Terraform Labs led to a significant settlement with the SEC, impacting the company’s founder, Do Kwon.

Conclusion

The fallout from Terraform Labs’ collapse has reverberated through the crypto market, with Spajic’s involvement casting a shadow over his political career. The financial ramifications of the collapse are estimated to exceed $40 billion, highlighting the risks associated with investments in the crypto sector.