Do Kwon’s First Interview Since Terra (LUNA) Downfall Called Out As Biased

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.

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.

On the Flipside

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.

Learn more about Terra Luna’s impact on the industry

Find out how 3AC founders’ run from authorities ended

Read more about Voyager’s ponzi scheme allegations

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.