CEO Do Kwon finally broke his silence in front of the community in an interview titled “Crypto’s Biggest Fall,” which Coinage Media will stream in its entirety.
The growth of the Terra ecosystem in May 2022 was unheard of in the DeFi developing globe, has rocked the crypto community, and could potentially affect financial systems. The total loss was in the neighborhood of 45 billion USD. The principal cause of why the cryptocurrency market hasn’t yet been able to fully recover.
In a one-minute, thirty-second clip, Terra Do Kwon’s CEO agrees to a straightforward interview following the incident for the first time. This will happen when it is officially shown on the evening of August 15. In the crypto community, we’re attempting to make this a widely anticipated event.
Do Kwon begins the introduction by saying that the UST has been under a lot of pressure to produce a stablecoin that is stable but ultimately unbalanced. So it makes sense that the community views this endeavor as a “scam”.
Do Kwon claimed that cryptocurrency is still an unstructured game
That as a result of the breakup, he has significantly altered both intellectually and personally.
Do Kwon then responded as follows when questioned by the interviewer if he would take back his prior haughty comments:
“Yes, but algorithmic stablecoins are starting to become the industry standard. I made a big bet on Terra but I lost.”
The most recent interview with Terra’s CEO was conducted roughly two months after he did a comparable in-person interview with the Wall Street Journal at the end of June 2022. Do Kwon is therefore sure that he can reconstruct Terra (LUNA) once more. Contrary to what the community believes, he has also stated that he did not commit a hoax himself.
“I have staked and made confident statements on behalf of UST because I believe in the project’s resilience and value proposition. I’ve lost since then, but my actions 100% match my words. There is a difference between failure and cheating.”
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