- Do Kwon has been interviewed by the Coinage media, an interview that has raised various questions about the actions of the founder of Terra since he maintains that his project is not a fraud.
The crypto ecosystem has great personalities. There are names loved by (almost) everyone, such as Michael Saylor, others that divide the public like Elon Musk, while a few are not loved by (almost) anyone. Do Kwon, without a doubt, who is in the latter group.
The founder of Terra, an ecosystem of billions that disappeared in a matter of days, is wanted by the South Korean Justice and also by the community. They both wait for answers. There are many questions about what happened and the businessman has not yet clarified some critical points, such as knowing what happened to the BTC that Terra Labs had to avoid a scenario like the one that happened, for example.
For this reason, his interview with the Coinage medium, with the title Inside Crypto’s Largest Collapse, is one of the most anticipated, and a day after it was published, it has already raised several comments about it.
Do Kwan talks about Terra
In dialogue with host Zack Guzmán, Do Kwon assured that cryptocurrencies are similar “to a wild card with many uncertainties”as highlighted Bitcoinist. At the same time, he assured that an algorithmic stablecoin, such as Terra USD (UST), was facing great pressure.
In an interview with the renowned American media The Wall Street Journal, Do Kwon assured that Terra was not a fraud. And he assured that “his statements by him on behalf of UST were based on his safe bets, since he was confident in Terra’s ability to recover.”
His words, of course, took time. Although he reaffirms that his word and his action were 100% consistent. It is not recognized as a fraud, although it does clarify that his project failed. The evidence is in plain sight: his projects have disappeared. Meanwhile, his evolution from Terra, an ecosystem that he wanted to recreate, has not worked.
The critics for both the founder of Terra and the interviewer were immediate and many people were not satisfied with the journalist’s approach and assured that the interview was a “publicity stunt”. At the same time that many claimed that someone else should have carried the dialogue forward. Guzmán, for his part, defended himself and assured that the interview was not paid for and that he did not leave a topic untouched.
The collapse of Terra led to a sharp drop in the entire crypto market, which felt the impact. Investors have lost trust in cryptocurrencies and that can be reflected in the price of assets: Bitcoin, for example, reached 68 thousand dollars and is currently struggling to return to the $25 thousand barrier.
Before the South Korean Justice, Do Kwon will give answers to the entire ecosystem, which is eager to hear it. While investors won’t get their money back, they at least want to know what the founder of the blockchain that disappeared in record time thinks.
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