September 29, 2022

The founder of Terra made several confessions


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The founder and head of Terraform Labs, Do Kwon, who is behind the creation of the Terra (LUNA) cryptocurrency project and the TerraUSD (UST) stablecoin, made several confessions. He assured that he was not a fraudster and never wanted to deceive investors. In addition, the entrepreneur confirmed that he lost almost all his personal savings due to the collapse of his own project.

Do Kwon gave an interview in which he admitted that the failure of the startup Terra seriously affected his psychological state. The businessman was very upset and devastated, because he was counting on the further development of the project. He assured that he feels guilty for the fact that tens of thousands of depositors lost their savings. At the same time, Kwon noted that he was not very worried about his own monetary losses. He is a rather modest person and is not accustomed to living luxuriously.

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