After three weeks of inactivity, Terraform Labs Co-Founder and CEO Do Kwon made a new post on microblogging platform Twitter, reasserting his view on what decentralized networks need to succeed.
Do Kwon Revives Twitter Presence
Do Kwon, who went underground after the collapse of Terra and the piling up of lawsuits against Terraform Labs, has shown his face after three weeks of silence. Kwon tweeted:
Decentralized networks need decentralized money - obvious today more than ever— Do Kwon 🌕 (@stablekwon) August 9, 2022
However, Kwon’s tweets on decentralized money was met with outrage from users, forcing him to turn off comments on the post. Despite the restrictions, users are still having their say on the matter through the use of quote tweets.
Users Show Displeasure Towards Kwon
With Do Kwon’s attempt at decentralized money ending up in the failed Terra Classic, and a struggling new Terra network, users took to Twitter to attack the Terraform Labs CEO for his brazen comments.
Reacting to Do Kwon’s comments on decentralization, user @thecryptomonk wrote:
Popular futures trader and crypto investor going by the handle “CoinMamba” also reacted to Kwon’s tweet, writing:
Another user, Mounia | IPC, reacted strongly, writing:
On the Flipside
- The collapse of Terra was one of the biggest contributors to the crypto winter, with institutional investors selling more than 236k BTC worth $5.3 billion since May.
Why You Should Care
Kwon’s statements on decentralization were made in light of Circle’s ban on all Ethereum addresses associated with Tornado Cash–a decentralized application used to mix crypto to cover a trail of blockchain transactions.
Why is Kwon not in Prison? Read more below:
For more information about the allegations against Kwon, read: