Do Kwon Has Spoken: “Terra-Luna…Was Basically My Life”

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Last Updated on August 15, 2022 by Bitfinsider

Do Kwon, the founder of Terra, has mainly avoided the media since the failure of his flagship project in May. However, the CEO of Terraform Labs comments on his current situation in a new interview with Zack Guzman for Coinage.

Kwon said that his belief in the market success of his Terra ecosystem, which he now concedes “seems super irrational,” was justified because it was “inching close to $100 billion.”

Kwon said: “I’ve never thought about what could happen to me if this fails.”

He also adds that “I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit,” despite the fact that it seems possible that someone insider at Terraform Labs used knowledge of the protocol’s vulnerabilities for financial gain.

The paper billionaire’s losses are incalculable, as Kwon said he was “down infinite.” He said: “There are probably not too many people that are alive with this type of experience, but it’s like, over the past five years, I just lived and breathed Terra.”

Since the initial investors were among the most hit by the crash, he claimed that Terra was not a Ponzi scheme. Among other potential legal issues, Kwon is accused of fraud in South Korea.

In the interview, he told Guzman “So what we’re going to do is we’re just going to put out the the facts as we know them. We’re going to be totally honest and deal with whatever consequences as they may be.”

Prior to the Terra crash, Kwon claimed he relocated to Singapore out of concern for the welfare of his wife and young child.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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