Do Kwon, the creator of TerraForm Labs, jumped on a Twitch podcast in the early hours of Wednesday morning to discuss the ongoing FTX crash. The Crypto Waldo was unexpectedly joined by Martin Shkreli, often referred to as “Pharma Bro.”
The golden piece of advice given by Shkreli, who was sentenced to four years in prison for tax fraud, was:
“I just want to let you know jail’s not that bad, it’s not the worst thing ever, so don’t fret. I hope it doesn’t happen. But if it does happen, it’s not that bad.” Do Kwon took the advice with a pinch of salt, remarking “good to know.”
South Korean Authorities Can’t Get A Hand On Do Kwon
The podcast appearance comes at a very capricious time for the crypto world. The South Korean authorities are still trying to track down the founder of the Terra (LUNA) monstrosity that wiped out $60 billion of investor funds and is linked to around $2 trillion losses in various crypto hedge funds.
However, the public has their eyes on FTX, the second largest crypto platform in the world that’s currently being shredded to pieces. The platform’s native token FTX (FTT) went down by 80% in just 24 hours, as the squabble between Binance and FTX bosses resulted in the largest crypto platform swallowing its competitor with ease.
The South Korean government earlier gave Do Kwon the ultimatum to surrender his passport in 14 days. The date for this ultimatum already expired last month, hinting that Do Kwon still might have not noticed Interpol’s Red Notice.
Crypto Halloween Continues With Zombies Coming Back
Moreover, this has been Do Kwon’s third media appearance ever since the Terra (LUNA) and Terra (UST) fiasco happened. This time, however, Terra’s boss isn’t alone, as Su Zhu, the co-founder of the busted Three Arrows Capital (3AC) crypto hedge fund, emerged from the ground to offer his philosophical take on the ongoing crypto beatdown.
There I was, surfing the wave of waves, next moment wiped out, board broken, rocks reefs everywhere— Zhu Su 🔺 (@zhusu) November 9, 2022
The sudden pain of business failure and loss of purpose, as a golden child of the industry + biz cycle more broadly, was as difficult as the ensuing ostracization and demonization
Three Arrows Capital (3AC) was closely linked to the Terra (LUNA) fiasco and the officers have played a similar cat and mouse game with the founders of the eliminated crypto hedge fund as they are doing in relation to TerraForm Labs CEO.
This Wednesday, the crypto slaughterhouse continues to be in full action with KuCoin’s users experiencing withdrawal issues and Crypto.com halting stablecoin USDT and USDC withdrawals immediately.
On the Flipside
Why You Should Care
Do Kwon is one of Terra’s insiders that have an arrest warrant against them. As the investigation into Terra (LUNA) downfall escalates, a vigilante unit formed out of Terra’s investors is trying to hunt down Do Kwon in Dubai, where he was last seen.
Learn more about the recent crypto crash and its impact on the industry: