If you've ever exchanged money for international travel or invested in global markets, you know currency stability matters. But what happens when a national currency, like the Korean Won, gets tangled up in the volatile world of crypto bankruptcies?
The Korean Won (KRW) is trending because a major crypto firm, Terraform Labs, is facing bankruptcy, and its assets are tied up in the Korean legal system.
Terraform Labs, co-founded by Do Kwon, was behind the Terra-Luna stablecoin collapse in 2022, which wiped out an estimated $40 billion in market value.