Giving a detailed interview for the first time since Terra’s (LUNA) collapse, CEO Do Kwon made statements about the behind-the-scenes damage of billions of dollars.
coinage Terra CEO Do Kwon, who gave an hour-long interview in a new NFTV series prepared by According to estimates approx. $40 billion The Terra crisis, in which the damage was done and thousands of users were victimized, followed one after another. Voyager Digital, Celsius It affected many connected exchanges such as the coin and started a domino destruction in the crypto money community. In the wake of this widespread destruction, officials said that the CEO of Terra and the authorized developers at the company banned them from leaving the country and raided crypto exchange. Kwon, sued in both South Korea and the USA.
However, the information conveyed by the CEO shows that the behind-the-scenes development of the event is much more complicated than what is seen from the outside. Speaking from Singapore, where he currently resides, CEO Kwon said, South Korean investigators Terra with herself about her collapse they had no contact is expressed:
What I’m going to do is lay out the facts as I know them. I will be completely honest in this interview and will deal with it regardless of the consequences. South Korean investigators have never contacted me after the events.
Expressing that he did not think about a possible decline scenario during the uptrend, Kwon continued with the following statements:
Put yourself in the shoes of the founder of an ecosystem that manages $100 billion. If you’ve had a string of wins and you’ve reached that scale, you hardly think you can fail. At this point, I literally hadn’t thought for a second about what might happen if Terra collapsed.
In response to the host asking Kwon’s thoughts on his earlier ‘arrogant’ statements, Kwon said,Yes, but algorithmic stablecoins are starting to become the industry standard. I made a big bet on Terra but I lost” made statements.