Do Kwon, the leader of the infamous TerraForm Labs, the company that’s responsible for making over $83 billion of investors’ funds disappear, has broken his silence in an exclusive video interview for Coinage.
Since Terra (LUNA) and stablecoin UST set a massive wildfire in the crypto world in May, the CEO of Terra (LUNA) went low pro, setting his Twitter profile to private for a while.
Despite Coinage’s aim to answer the biggest questions in crypto, the media outlet ironically raised even more questions after the piece, evident by the heated reactions on Twitter. While some crypto enthusiasts are enraged by the fact that Do Kwon is walking free while the devs of Tornado Cash have already been arrested, others are simply questioning the integrity of this interview, as the journalist Zack Guzman, also the founder of Trustless Media, allegedly has personal ties with Do Kwon and TerraForm Labs.
A Toy Story by Do Kwon
While interviewed by Coinage Media’s Zack Guzman, Do Kwon described the process of making Terra (LUNA), as well as any other projects, as making “toys.” When asked if he would stop making toys if a lot of people choked on them, the extravagant inventor of Terra (LUNA) assured he would be “more careful next time.” In addition, Do Kwon was strict on himself, portraying his character as being overconfident, even “super irrational” at one point.
The collapse of Terra is a complicated story - some might argue intentionally so.— Coinage (@coinage_media) August 16, 2022
Coinage is here to ask the big questions. And when it comes to Do Kwon, the subject of our first episode… well, there are a lot of big questions. Too many to fit in one episode. pic.twitter.com/HmxXIhL2Kf
Moreover, despite the highly publicized case of South Korean authorities going after Do Kwon and Terra Luna, Mr. Kwon claimed that the authorities haven’t reached out yet. Residing in Singapore, the founder of Terra Luna was asked if he contemplates going back to his homeland. He responded, “It’s kind of hard to make that decision, because we’ve never been in touch with the investigators. They’ve never charged us with anything.”
However, Daniel Shin, the co-founder of Terra Luna, had his home raided by South Korean police just last month. The South Korean authorities launched a probe on illicit activities related to the demise of Terra Luna, blaming Do Kwon for siphoning funds a couple of days prior to the Terra (LUNA) and Terra (UST) crash. Moreover, the crash resulted in South Korea’s government attempt to curb crypto with strict laws. Money laundering charges might be just the beginning of legal trouble for Terra Luna, as the officers restricted any former Terra Luna worker from leaving the country.
FatmanTerra Strikes Again
Fairly or not, Do Kwon is getting dragged through the mud by many members of the crypto community. While some of them personally suffered “from his ego“, others point out that there’s no room for “smirks and smiles” in a situation where so much pain has been caused.
Over and beyond that, FatmanTerra, the self-proclaimed Terra Luna insider, seems to be Mr. Kwon’s worst nightmare. He publicly called out Zack Guzman as “someone who has been shilling Do Kwon for years as if he was getting paid.” The CEO of trustless media fired back by arguing that Terra Luna was a “big bet,” meaning it could be a great success or one of the biggest failures in crypto history.
Ultimately, after three months of Terra Luna’s fiasco, Do Kwon described his current financial situation as “down infinite,” but it doesn’t seem that Mr. Kwon has any trouble putting food on the table.
Just watched the Do Kwon interview— 🐭 🎀 𝕃𝕌ℕℂ 𝔻𝔸𝕆 🎀 🐭 (@LUNCDAO) August 15, 2022
4 things are certain:
1. Zack Guzman has williams syndrome
2. Do Kwon has severe autism
3. There is palpable sexual tension between Zack and Do, likely leading to a cohabitation situation soon
4. FatMan is going to prison
I longed $LUNA pic.twitter.com/MG9yhtt7k0
On the Flipside
- Despite losing an enormous amount of money in Terra investments and filing for bankruptcy, Celsius Network managed to repay some loans
Why You Should Care
The staggering fiasco of Terra (LUNA) and the algorithmic stablecoin UST has made a huge impact on the whole industry, shredding to pieces top crypto hedge funds like Three Arrows Capital (3AC) and Voyager Digital.