This South Korean entrepreneur is making waves in blockchain analysis
[Source]
Meet Ju Ki-young, a South Korean tech entrepreneur who co-founded the blockchain analysis firm CryptoQuant.
About Ju: Born in 1992, Ju, an alumnus of Pohang University of Science and Technology, co-founded CryptoQuant with fellow alumni in April 2019. Before becoming its CEO and entering the blockchain sphere, he was a software engineer who offered analyses for businesses.
What CryptoQuant does: CryptoQuant, which South Korea's Chosun Daily dubs as the "Bloomberg of Crypto," provides on-chain and market data gathered from blockchain and major cryptocurrency exchange platforms. The company keeps track of every transaction that occurs in the market.
Making a name: Using on-chain data analysis, CryptoQuant says it was the first to notice the impending crash of the Terra-Luna cryptocurrency in May 2022 and the potential bankruptcy of FTX months after.
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This 37k inflow to Gemini seems to be to use custodian solution for LFG foundation, not for selling.
Any thoughts? @stablekwon https://t.co/gnUU2QURa5 pic.twitter.com/Wg47eF2J7I
— Ki Young Ju (@ki_young_ju) May 9, 2022
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Ju raised the red flag in an X post, pointing out how Terraform Labs' nonprofit, Luna Foundation Guard, transferred around 37,000 Bitcoins (approximately $1.59 billion in today's exchange) to Gemini, a cryptocurrency exchange. A few days after making the post, Terraform Labs' Luna, the sister token of stablecoin TerraUSD, crashed to virtually $0.
Turns out sellinghttps://t.co/CBVy3m6w0v
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— Ki Young Ju (@ki_young_ju) May 13, 2022
With its success, CryptoQuant signed a partnership deal with the Chicago Mercantile Exchange (CME Group), the world’s largest derivatives and options exchange, as the latter’s on-chain data provider in July of the same year.
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Helping solve crimes: Ju hopes that CryptoQuant could also aid governments and financial authorities in tracking cyber financial crimes. In 2019, the company used its expertise to uncover the e-wallets of those involved in the “Nth Room” scandal, leading to the arrest of masterminds Cho Ju-bin, Moon Hyung-wook and others.
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