One of the most important topics in the crypto money world in the past months was Terra (LUNA). The algorithmic stable coin of the cryptocurrency ecosystem, UST, started to lose value, and the cryptocurrency, whose value should always be around 1 dollar, sank cryptocurrencies and investors, especially LUNA. The name behind the event was Terra Founder Do Kwon.
The events that took place are partially forgotten. But now, there has been a development that will remind all that has happened. Do Kwon conducted an interview with Coinage Media, and part of this interview has been published as of now. Speaking at length for the first time after what happened, Do Kwon has made remarkable statements.
“I bet, I lost”
One of the questions Do Kwon was asked was how he felt during the collapse. The Terra founder said that this is a very difficult thing. In his interview trailer, we see Do Kwon saying that he believes the algorithmic stablecoin industry has become the standard, saying that he made a bet and lost that bet. One involuntarily asks, “Betting on a trillion-dollar channel?” she can’t help but ask. Because the collapse in Terra also bankrupted the business partners and investors of the project.
It is not known how the waters are settled in the case of Terra. Because the South Korean government stepped in and launched an investigation into the matter. However, it is not yet known how this investigation will be completed and what will happen to Do Kwon. It looks like we may revisit this issue in the future.
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