- 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.
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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.
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.
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