Connect with us

Blockchain News

CEO Do Kwon Spoke to The Public About Terra’s Collapse



CEO Do Kwon Spoke to The Public About Terra’s Collapse

Coinage Media is going to interview Do Kwon in the aftermath of the Terra Luna collapse. In the teaser, Kwon opens by saying, “Terra was supposed to be a Stablecoin, and it didn’t remain stable. Therefore, it must be a fraud, and must be a scam. Crypto is still sort of like the wild west. I think I developed like sort of, an alter ego.”

The collapse of the Terra ecosystem in May 2022 was unheard of in the DeFi developing globe, has rocked the crypto community, and could potentially affect financial systems. The total loss was in the neighborhood of 45 billion USD. The principal cause of why the cryptocurrency market hasn’t yet been able to fully recover.

The fallout from the Terra ecosystem collapse has been broad, with investors losing out big. And one of Terra’s Co-Founders, Daniel Shin, was recently raided by Korean prosecutors. This is despite distancing himself from Do Kwon and the Terra project.

In a one-minute, thirty-second clip, Terra Do Kwon’s CEO agrees to a straightforward interview following the incident for the first time. This will happen when it is officially shown on the evening of August 15. In the crypto community, we’re attempting to make this a widely anticipated event.

Do Kwon claimed that cryptocurrency is still an unstructured game

CEO Do Kwon Spoke to The Public About Terra’s Collapse

Do Kwon begins the introduction by saying that the UST has been under a lot of pressure to produce a stablecoin that is stable but ultimately unbalanced. So, it makes sense that the community views this endeavor as a “scam”.

When asked by Co-Founder of Coinage Media, Zack Guzmán, if he cringes at his past comments, Kwon answers, “Yes, but the algorithmic stablecoin was starting to become industry standard. I bet big and I think I lost.”

The most recent interview with Terra’s CEO was conducted roughly two months after he did a comparable in-person interview with the Wall Street Journal at the end of June 2022. Do Kwon is therefore sure that he can reconstruct Terra (LUNA) once more. Contrary to what the community believes, he has also stated that he did not commit a hoax himself.

“I have staked and made confident statements on behalf of UST because I believe in the project’s resilience and value proposition. I’ve lost since then, but my actions 100% match my words. There is a difference between failure and cheating.”

FatManTerra Comments

Rising Twitter personality @FatManTerra claims to be an insider on the Terra project. He has leaked many inside documents during and after the collapse of the Terra ecosystem. He said of the interview with Kwon:

“Do, why not have an interview with someone more neutral and respectable like Bloomberg or Fortune instead of someone who has been consistently shilling you for *years*, almost as if he’s paid? And will you address the billions you cashed out of the system?”

To which Guzmán replied, “@FatManTerra more respectable? I was a user of Terra just like you were. Also, kinda shady that you are acting like I didn’t try to reach out to you for this. Of course, I covered Terra. It was either always going to be either crypto’s biggest success or its biggest failure.”

Fatman denied that Guzman had reached out. “You didn’t reach out to me about a documentary or interview of any sort. You asked me if I was in Singapore and asked to meet up. I said no because I live in the UK. That was all. I think it’s ‘kinda of shady’ that you would lie about that…”

Fatman also said, “I wouldn’t quite say you ‘covered Terra.’ I would say you shilled Terra and Do Kwon for a very long time, turning a blind eye to their weak points and acting like a sycophant when convenient. With respect, I think any journalist will agree that you are not the most neutral here.”

  • bitcoinBitcoin (BTC) $ 19,242.47
  • ethereumEthereum (ETH) $ 1,305.93
  • cardanoCardano (ADA) $ 0.430435
  • polkadotPolkadot (DOT) $ 6.26
  • litecoinLitecoin (LTC) $ 52.65
  • chainlinkChainlink (LINK) $ 7.33
  • stellarStellar (XLM) $ 0.120434
  • bitcoin-cashBitcoin Cash (BCH) $ 116.18