Terraform Labs CEO, Do Kwon, spoke about the latest rumors.
Terraform Labs CEO Do Kwon spoke about rumors that he had earned $2.7 billion in cryptocurrencies before his project collapsed.
Kwon said he had only been paid in dollars for the past two years. The controversial South Korean entrepreneur claimed that he delayed acquiring most of his tokens because he wanted to avoid potential conflicts of interest. Moreover, he revealed that he lost most of his own money during the accident. The cryptocurrency developer said he doesn’t care much about money anymore and is getting more and more ridicule on Twitter.
Rumors started by FatMan. He claimed that Kwon could cash out billions in UST in the now-failed stablecoin, with the help of Abracadabra’s borrowing protocol called Degenbox.
In the wake of Terra’s $60 billion collapse, some denounced the lack of responsibility. Lebanese-American statistician Nassim Taleb recently stated that Kwon is more dangerous than swindler Bernie Madoff.
On June 9, another version of the Luna token expected to revive the project dropped to an all-time low of $2.1.
While Kwon is unlikely to face jail time, his country has faced severe scrutiny from regulators in South Korea and elsewhere. As previously reported, the SEC has launched another investigation against Terraform Labs.
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