- Do Kwon accepted to be interviewed in Singapore by crypto media Coinage.
- This is the first time Kwon accepted an interview since Terra’s crash.
- “I alone am responsible,” Kwon pointed out in the interview.
Terraform Labs CEO and founder Do Kwon was seen in an interview three months after Luna and UST’s unforgettable crash, where many people lost their life savings and trust in crypto’s stablecoins.
In an interview with Zack Guzman on the NFTV series Coinage broadcasted on Monday, Kwon said “I’ve never thought about what could happen to me if this fails.” Terra’s CEO refers to Luna’s price drop to almost 100% and the depegging of its stablecoin, UST.
At the time, Kwon’s confidence accounted for as the success of Terraform Labs was “inching close to $100 billion,” and confessed that his faith now “seems super irrational”.
In May, investors of LUNA and UST lost to nearly $45 billion in value in just three days.
Kwon pointed out that the earliest investors were the ones hit the hardest in the crash, which means Terra was not a Ponzi scheme. Adding that he also couldn’t evaluate his losses but admitted being “down infinite.”
Kwon also revealed that there was a ‘mole’ at TFL and someone did take advantage of that particular opportunity.
Read CRYPTONEWSLAND on
google news
But if those opportunities existed, then the blame is on the person that presented those vulnerabilities in the first place,” he explained. He also told Coinage that he’s taking full responsibility “for any weaknesses that could have been presented for a short seller to start to take profit.
The Terra’s CEO also stated that they’re going to put out the facts with honesty and deal with whatever consequences they may face. Prior to Terra’s crash, Kwon moved to Singapore due to the terror of the situation brought him and his family.
Recommended News :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
