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Terra’s Do Kwon Tells Wall Street Journal He Is Not A Fraudster And Is Reeling In Regrets For His Arrogant Utterances In Past


thecryptobasic.com 23 June 2022 08:32, UTC
Reading time: ~3 m

Terra founder Do Kwon says he regrets the arrogant things he said when Terra was strong.

A few weeks ago, the Terra community was treated to an agonizing fall of their ecosystem. Terra Luna and UST’s prices crashed hard, sending them into the penny zone way below the dollar point. Since then, Terra founder Do Kwon has been trying to revive the system. His plan was to launch a new Terra 2.0 blockchain that would reclaim the lost glory of the ecosystem. However, Terra 2.0, along with Luna 2.0, don’t seem to be making many headwinds in the market.

During an interview with the Wall Street Journal, Do Kwon had a few things to get off his chest:

“Build Back Stronger”

According to Kwon, Terra has an opportunity to build back stronger. He believes the ecosystem may surpass the stage it was in before the crash. By this, he means Terra 2.0, the new blockchain that came with new Luna tokens named Luna 2.0. It’s still not clear what Kwon’s plans are for the collapsed Luna Classic and UST.

“I have great confidence in our ability to build back even stronger than we once were,”

Not A Fraudster

Going on, Do Kwon claimed that he was among the thousands of people affected by the UST crash, adding that he lost money in it. In his view, all the “confident” statements he made, which a lot of people seem to think were arrogant statements, were on behalf of UST because he had confidence in it. Do Kwon refuted claims that he is a fraudster.

He said,

“I made confident bets and made confident statements on behalf of UST because I believed in its resilience and its value proposition. I’ve since lost these bets, but my actions 100% match my words. There is a difference between failing and running a fraud.”

He also seemed to feel for the investors who lost their savings in the process.

“I’ve been devastated by recent events and hope that all the families who’ve been impacted are taking care of themselves and those that they love.”

Kwon when questioned how do feel about what your tweets and things u have been saying in the past,

Kwon said to WSJ:

” I really do regret some of the things I said in the past.”

People Aren’t Buying The Act

However, there are those who still don’t take Do Kwon seriously – at least not anymore. Mati Greenspan, who is the founder and CEO of Quantum Economics, isn’t very confident about believing Do Kwon’s words.

“I don’t understand why anybody in their right mind would want to invest in Luna 2 after watching Luna 1 blow up so dramatically.”

Cory Klippsten, the CEO of Swan Bitcoin, thinks Kwon runs a high-level scam. That’s especially judging from the way he tweeted and engaged with the crypto community.

“It was just really obvious from seeing how this guy tweeted, and how he spoke on camera, and how he carried himself that he was a fraudster.”


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