Prankster Do Kwon achieves a goal, banker Mark Carney achieves a lot

Prankster Do Kwon achieves a goal, banker Mark Carney achieves a lot

Do Kwon.Image Bloomberg via Getty Images

Winner: Crypto Developer Do Kwon

Few people master the art of Zen as well as Do Kwon. The South Korean is suspected of defrauding Luna and terraUSD investors. When the cryptocurrency he founded in May of this year collapsed, nearly $40 billion dwindled.

Since then, there has been a real stalking of Kwon, who continues to send messages to the world on Twitter. When Singapore police recently reported that Kwon was no longer in the country, he stated on the social network that he was “not a fugitive”. The reaction of South Korean prosecutors: He is clearly a “fugitive”. On Wednesday, Interpol issued a worldwide request to transfer him to remand.

Kwon doesn’t let it get to his heart. If you don’t want to cry about him, you better laugh at him, apparently his motto. “Honestly haven’t walked in a while, I need to burn some calories,” he wrote on Twitter a few hours after his denial.

The wink thinks he’s already on the run BloombergColumnist Matt Levine is a breath of fresh air. What will the CEO of a traditional financial company do when tens of billions of customers are accused of smoking? Shut up and get a boring statement sent that he’s looking forward to clearing his name. And flee the country? ‘Probably! But tweet about it? Mostly not.’

When Kwon was asked in an interview last month what he thought of his prison sentence, the answer was immediate. “Life is long.” Look, then you are the head of a zen.

Photo by Mark Carney (Reuters)

Mark CarneyReuters photo

Loser: Banker Mark Carney

Do you want to keep as many frogs in the wheelbarrow as possible, or do you just want the frogs that have a real motivation to leave the pond? Mark Carney faced that tough choice this week. The former head of British and Canadian central banks leads the Glasgow Financial Alliance for Net Zero (Gfanz).

The club, which was founded last year, has more than five hundred banks, insurance companies and pension funds, which together manage 130,000 billion US dollars. The intent is to invest that money in a way that makes climate neutrality possible by 2050.

But the frogs JPMorgan Chase, Morgan Stanley and Bank of America are considering leaving the alliance, appeared this week. Big banks are unhappy with the tightening of rules by Race to Zero, the UN project on which Gfanz is built. For example, they are no longer allowed to give loans for new coal projects. In the US, this could lead to lawsuits, they fear, with many states requiring them to provide funding for this sector as well.

Carney agreed with the banks, the new rules are “over the line” and are being relaxed. Critics say the Canadian would have been better off sticking to the rules and sticking with banks that are serious about fighting climate change. In the background is the warning issued this week by UN Secretary-General António Guterres: “Climate action is being delayed.”

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