Do Kwon Interview Explains He Was “Destroyed” by LUNA Crash, Says “There’s a Difference Between Failure and Fraud” – Bitcoin News

In a recent interview with The Wall Street Journal (WSJ), Terraform Labs (TFL) founder Do Kwon said he was “shocked” by the LUNA and UST implosions in mid-May. He may have been a billionaire when LUNA hit its all-time high before the crash, but lost a significant portion of his net worth after the fallout, he told The Wall Street Journal.

Do Kwon talks about Terra LUNA

Do Kwon discussed the impact of LUNA and UST in a recent interview with Wall Street Journal contributors Alexander Osipovich and Jiyoung Sohn. The interview, published on June 22, is Kwon’s first since Terra collapsed. Kwon told reporters that he lost most of his wealth after the crash, but it didn’t bother him that much. “It doesn’t bother me,” Kwon told reporters. “I live a pretty frugal life,” says the Terra co-founder.

However, Kwon said he was sorry for the losses investors suffered from the fallout. “I am devastated by the recent events and wish all affected families to take care of themselves and their loved ones,” Kwon said in the interview. He also talked about his self-confidence, which many call arrogant, noting that this is because he is a big believer in the Terra ecosystem. Quan said:

I made a confident bet and made a confident statement on behalf of UST because I believe in its resilience and value proposition. He added: “I’ve lost those bets, but my actions are 100 percent in line with my words. There is a difference between failing and committing fraud.

Kwon ‘confident’ in Terra’s ‘stronger ability to rebuild’

Additionally, Kwon discussed the new Terra blockchain and LUNA 2.0, which has dropped 90% from its all-time high of $18.87 per unit and is now trading at $1.88. LUNA 2.0 had a market cap of around $238 million on June 23, and the token has lost 2.6% in the past 24 hours. Kwon believes the revival will be strong and believes that LUNA 2.0 will one day surpass the LUNA Classic (LUNC) chain.

“I have full confidence in our ability to rebuild stronger than we were before,” Kwon told The Wall Street Journal reporter. Kwon was reported in an interview with the Wall Street Journal. Say The U.S. Securities and Exchange Commission (SEC) is investigating the collapse of Terraform Labs and UST.In addition, a whistleblower named Fatman defendant Kwon has a large amount of LUNA in his personal wallet.

fat people too defendant Kwon cashed out $2.7 billion in funding before the project collapsed, but the Terra co-founder denies he cashed, saying the allegations were false. Kwon and Terraform Labs also indicted class action Claims that co-founders and company misled investors. also, official records Shows that Do Kwon disbanded Terraform Labs Korea before LUNA and UST collapsed. Three members of Terraform Labs’ in-house legal team leave the company is also in controversy.

tags in this story

class action, class action, collapse, go to nails, do right, interview, Luna, Luna 2.0, Luna Investor, Lunch, new blockchain, SFC, the earth, Terrain Lab, tera dollar, TFL, American University of Science and Technology, UST decoupling, UST investors, whistleblower fatman, Wall Street Journal Interview

What do you think of Do Kwon’s interview with the WSJ? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles for News on the disruptive protocols emerging today.

Image Source: Shutterstock, Pixabay, Wiki Commons

Source link