Whereas many early LUNA traders have made no secret of their hyperlinks to the notorious Ponzi – Mike Novogratz actually bought a tattoo of the scheme on his arm — others have most well-liked to fly barely extra below the radar.
Sadly for them, regardless of their finest efforts, in April a Securities and Trade Fee (SEC) skilled witness managed to compile an exhaustive listing of everybody who was capable of purchase LUNA at a reduction — most for $0.10 a token.
Right here, Protos has collected particulars about a few of the higher and lesser-known people concerned on this early sale. The entire purchases listed beneath occurred between July and September of 2018 till in any other case specified.
It’s essential to grasp why Protos is publishing particulars about these early traders in LUNA.
We’re not suggesting that any of those people are responsible of something nor implicating them in Do Kwon and Daniel Shin’s spiderwebs of lies and fraud. As an alternative, it’s extra to shine a light-weight on who was approached to be an early a part of LUNA and who was so taken by Do and Shin’ pitch of an algorithmic stablecoin providing insane yields that they did little-to-no actual due diligence.
It’s additionally essential to appreciate that many of those people aren’t victims in any respect — possible promoting their tokens lengthy earlier than the collapse of the scheme. They’re possible extremely educated and/or rich individuals who had been blinded by a worry of lacking out on the subsequent huge crypto alternative.
Hwisang Kim
On the time Hwisang Kim invested $3 million for 30 million LUNA tokens, he was chief funding officer of Hashed, a blockchain fund that obtained over $30 million from SK Group (the second largest conglomerate in South Korea after Samsung).
Polychain Fund 1 LP
Polychain Fund 1 was the primary fund created by Polychain Capital, an funding agency began by Olaf Carlson-Wee, who was the primary worker of Coinbase and its head of threat administration. Buyers in Polychain embrace a16z and the Founders Fund. The agency acquired 30 million LUNA tokens.
Binance Advertising Providers Ltd.
In what was possible much less of a purchase order and extra of a ‘quid pro quo,’ Binance Advertising Providers Restricted was capable of purchase 30 million LUNA tokens for $3 million {dollars} — however whether or not any cash exchanged fingers or the tokens had been as an alternative for Binance to market make is unclear.
Dunamu & Companions
The funding arm of Dunamu, the Korean firm that created UpBit, an early cryptocurrency change established in 2017, acquired 20 million LUNA tokens.
TransLink Capital Companions IV, L.P.
A fund operated by TransLink Capital, a VC fund positioned in Palo Alto, CA. The IV LP fund raised $180 million, of which $2 million went towards LUNA. The fund acquired 20 million LUNA tokens.
Learn extra: Right here’s how crypto’s third largest stablecoin Terra (UST) collapsed
Kakao Funding Co., Ltd.
The funding arm of South Korean firm Kakao — largely recognized for being the preferred social media and chat app in South Korea — acquired 10 million LUNA tokens.
P2PPE
A now-dissolved UK firm that was run by two Chinese language nationals, Shuoji Zhou and Jingda Yan. Shuoji Zhou is co-founder of FBG Capital which was described as a ‘flipper‘ which means it bought rapidly into and out of quite a few ICO investments in 2017.
Jingda Yan is a finance professor in Beijing. The duo paid $1 million for 10 million LUNA tokens.
Arrington XRP Capital Cayman SPV, LTD.
The Cayman Islands arm of Arrington XRP Capital is operated by Michael Arrington, who grew to become well-known within the ’90s for beginning TechCrunch and who has since grow to be a vocal proponent of XRP. His Cayman funding arm acquired 10 million LUNA tokens.
Cherubic Ventures Advisors Ltd.
An funding arm of Cherubic Ventures, a VC agency established by Matt Cheng and primarily based out of Taiwan. The agency acquired 10 million LUNA tokens.
Nirvana Capital Ltd.
A Beijing-based cryptocurrency funding agency began by Alfred Jiang. Jiang was capable of purchase 10 million LUNA tokens.
HOF Capital GGI Fund Tokens, LLC
The Cayman Islands funding arm of HOF Capital listed Daniel Shin, co-founder of LUNA/Terra, as a Enterprise Accomplice till the collapse. The agency acquired an auspicious 9.999 million LUNA tokens.
Learn extra: Bounce Crypto chief pled Fifth over alleged backroom Do Kwon deal
Huobi Capital
Now often called HTX Ventures following Justin Solar’s involvement, Huobi Capital acquired 7.5 million LUNA tokens.
1kx LP
1kx is a German VC fund that’s been a large investor in cryptocurrency and web3 corporations since 2017. It acquired 5 million LUNA tokens.
Kenetic Capital SP1 Limitless
Kenetic Capital SP1 Limitless is a fund operated by Kenetic Capital, a Hong Kong-based proprietary buying and selling and VC funding agency that made quite a few investments into BlockFi and likewise invested in FTX. It acquired 5 million LUNA tokens.
Monex Group, Inc.
Monex Group is a Japanese monetary providers firm that bought a well-liked crypto change known as Coincheck in 2018. Coincheck is at the moment looking for an inventory on NASDAQ. Monex Group acquired 4.6 million LUNA tokens.
BONGGUN BAE
Doubtless a misspelling of Bongun Bae, a South Korean government at the moment engaged on web3 gaming by way of an organization known as NPIXEL. Bongun Bae was capable of purchase 4.4 million LUNA tokens.
Divergence Digital Forex LP
The founding father of Divergence Digital Forex (DDC) — now part of Struck Capital — Adam Struck, sued one in every of his workers at DDC, Yida Gao, for defrauding him. The fund acquired nearly 4 million LUNA tokens.
Learn extra: A whole timeline of Celsius’ relationship with Terra LUNA and Tether
Jack Abraham
Abraham is well-known for founding telehealth firm Hims & Hers however was additionally a loud proponent of LUNA/Terra — particularly in an interview with Anthony Pompliano. He additionally said within the Pompliano interview that from a regulatory standpoint, he’s anxious about pursuing crypto. Abraham acquired 3.5 million LUNA tokens.
Digital Asset Capital Administration Inc.
LUNA was one of many first investments made by BVI-headquartered Digital Asset Capital Administration (DACM), an funding agency that nearly solely invests in crypto.
Run by co-founder Richard Galvin, the CEO bragged in a video interview with Cointelegraph about how nicely his agency was capable of commerce LUNA. DACM acquired 2.5 million LUNA tokens.
BGT Issuer Ltd.
A BVI-domiciled fund with headquarters supposedly in Singapore. It entered into voluntary liquidation within the BVI in 2022. BGT Issuer acquired 2.5 million LUNA tokens.
Coefficient Group Holding Ltd.
It’s unclear what Coefficient Group does and its web footprint — together with an internet site that doesn’t clarify something — is minimal. The corporate is UK-based and was apparently based by a chartered monetary accountant. Coefficient Group acquired 2.5 million LUNA tokens.
Learn extra: Bounce Crypto profited from Terra Luna as traders misplaced billions
WXY Consulting Pte. LTD.
The apparently now-defunct consulting company was primarily based out of Beijing however had a enterprise handle in Singapore. Different shoppers concerned with the agency embrace FTX and KuCoin, with Huobi (now HTX) being listed as an investor.
Its former web site is now clean however states it’s linked to Xinzhou Jiuzhong Medical Know-how Co., Ltd. In all chance, WXY obtained 1.7 million LUNA tokens as a type of sweat fairness.
Karisa Anne Sukamoto
A former Singaporean magnificence queen and clothier who acquired 1.5 million LUNA tokens.
Masa Kakiya
At present the top of enterprise growth in Japan for web3 gaming firm Immutable, Kakiya as soon as labored for cryptocurrency firm ConsenSys. He acquired 1.5 million LUNA tokens
The Tenev Dwelling Belief
The Tenev Dwelling Belief is a non-public funding holding for Vladimir Tenev, the CEO and co-founder of Robinhood Markets, a significant brokerage agency. Tenev had Do Kwon on his podcast Below the Hood to debate ‘a courageous new system‘ of spinning up FinTech apps like web sites — the episode has since been deleted. Tenev acquired 1 million LUNA tokens.
Loi Luu
Singaporean founding father of a decentralized cryptocurrency change known as KyberNetwork and now engaged on a web3 VC fund known as Caliber. Luu obtained 1 million LUNA tokens.
Learn extra: Do Kwon can’t go away Montenegro, however owes the US thousands and thousands
GBIC LLC
A New York-based crypto investor with a footprint in South Korea and China. GBIC was additionally an early investor in FTX and was capable of purchase 1 million LUNA tokens.
Stefano Schiavi
An investor and entrepreneur targeted on blockchain and cryptocurrency options, Schiavi used to run a now-defunct Seoul-based ‘not-for-profit’ known as Not For Sale. He acquired 1 million LUNA tokens.
David Lee
A professor at Singapore College of Social Sciences and a one-time visiting scholar at Stanford College who acquired 1 million LUNA tokens.
Milojko Spajić
In keeping with regulators in Montenegro, the nation’s present prime minister by no means submitted the required paperwork declaring that he had bought 750,000 LUNA tokens in 2018. He repeatedly lied to the general public, claiming that the tokens had been bought for a Singaporean agency he was employed by known as Das Capital.
Rumors of Spajić’s shut connections to the founders of LUNA have abounded since Do Kwon selected to flee to Montenegro after being issued a crimson discover by Interpol and being wished by South Korean and US authorities.
Learn extra: Anyone extradite Do Kwon already
Oh Eng Bin
A senior companion at Dentons, the biggest world legislation agency. Oh Eng Bin operates out of Singapore, leads Dentons’ blockchain focus, and purchased 600,000 LUNA tokens.
Jon Choi
Choi is a Harvard graduate who was concerned with the Ethereum Basis and created a now-defunct app to share outfits. He acquired 500,000 LUNA tokens.
QCP Capital
The funding arm of Singaporean digital asset dealer and market maker QCP Group acquired 500,000 LUNA tokens.
Learn extra: Montenegro courtroom set to resolve on Do Kwon extradition… once more
Dongwon Kim
A South Korean former director at Bithumb and cryptocurrency guide. He acquired 2 million LUNA tokens.
There have been additionally many early traders named by the SEC that weren’t included in our listing. A few of these people had been troublesome to establish and others contributed lower than vital quantities to the pre-sale.
Probably the most puzzling title listed was Northgatestars, which acquired 2.5 million LUNA tokens in July of 2018, whereas the people who contributed essentially the most that we had been unable to positively establish had been Younghoon Moon (acquired 4.5 million LUNA tokens), Sung hun Park (acquired 4.48 million LUNA tokens), Siwon Lee, (acquired 4.4 million LUNA tokens), and Jonyong Park (acquired 3 million LUNA tokens).
Late Stage
Beneath are a lot of large-scale traders who put cash into LUNA between late 2019 and June of 2021. It isn’t recognized what sort of low cost they obtained on these purchases or what contractual agreements had been signed:
Galaxy Digital Trading HK Ltd.
Mike Novogratz’s firm famously dumped $4 million into LUNA in 2020.
Pantera Digital Asset Fund LP
Pantera Capital is without doubt one of the extra well-known cryptocurrency funds within the trade, famously struggling on account of its funding in FTX. It poured $1.7 million into LUNA in 2020.
Blockchain Ventures Fund I LP
That is the enterprise arm of Blockchain (dot com). Blockchain spent $1.3 million on LUNA in 2021.
Confederate Blockchain Two Ltd.
Confederate Blockchain is a Boston-based crypto funding agency run by Jeff Fagnan. It spent $600,000 on LUNA in 2020.
ACCII Offshore Blocker Ltd.
This fund created by Balancer Labs, a non-custodial portfolio supervisor, liquidity supplier, and price sensor, put $600,000 into LUNA in 2020.
DZG Funding Belief
This can be a fund managed by a ‘David Z. Galpin,’ who put just below $300,000 into LUNA between 2019 and 2020.
Learn extra: Do Kwon enchantment claims attorneys had 20 minutes to assessment docs earlier than listening to
Watch out, it seems everybody — from essentially the most subtle enterprise capital traders, professors at world-class universities, and political luminaries, to CEOs of a few of the largest corporations on Earth — can simply be fooled by charisma, huge numbers, and hype.
At present, Do Kwon stays in a Montenegrin existential disaster, a Schrödinger’s Kwon which means regardless of the multi-billion-dollar monetary legal tied to the present prime minister, he can’t be extradited to each South Korea and the US.
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