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- Do Kwon discusses Terra-Luna collapse in his recent interview.
- Kwon moved to Singapore and gave this a reason for their family safety.
Do Kwon’s Public Interview After Terra Crash
In the recent interview of Terra founder, Do Kwon, he discussed the massive failure of Terra-Luna. He said, “I have never thought about what could happen to me if this fails.” However, Kwon gives a justification, in which he discloses “seems super irrational” on the market success of Terra as it was “inching close to $100 billion.”
Kwon also said that there was an insider, who shared the information regarding protocol’s vulnerabilities to profit. While he kept silent on revealing any name. But he added, “I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.”
He said that he is “Down Infinite.” He added, “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.” While Kwon also shared that he faces “allegations of fraud” in South Korea.
As per the belief of Kwon, he said Terra was not a Ponzi Scheme. And the early investors of Terra suffered most from the crash. Kwon further added that, “So what we’re going to do is we’re just going to put out the facts as we know them. We’re going to be totally honest and deal with whatever consequences as they may be.”
On a question on returning to South Korea, Kwon said, “It’s a little difficult to decide right now (to return to South Korea) because we’ve never been in contact with investigators. We’ve never been accused of anything.” Moreover, about Kwon’s future plans in the coming 20 years, he said his work will be more occasional than his failures. He also wants to wipe-off his experiences with Terra USD and Luna.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
