- The CEO of Terra Do Kwon appeared in an interview with Coinage Media hosted by Zack Guzmán.
- This is one of the first times Kwon has appeared publicly since the crash of LUNA and TerraUSD in May 2022.
- The sadly famous crypto billionaire said that South Korean investigators have contacted him about this.
- Several investigations are underway to determine the factors behind the fall of Terra, according to reports.
- Kwon revealed that there has never been an accident while leading an ecosystem nearly 100 billion strong of dollars.
Do Kwon, CEO and Founder of Terraform Labs, interviewed with Coinage Media to discuss the aftermath of the fall of Terra in May 2022, which has cost retail investors and large corporations some $40 billion.
Coinage Media host Zack Guzmán released a teaser for the interview over the weekend ahead of its Monday release. The pair reportedly talked for two days about Terra-related topics.
Notably, Do Kwon said that South Korean prosecutors have not yet contacted him at subject of Terra. EthereumWorldNews reported that authorities have launched a series of investigations into Terraform Labs (TFL) and several employees.
Kwon was asked to appear before Congress to report on the events that led to the collapse of LUNA and UST, the algorithmic stablecoin championed by Kwon and his crypto company.
Prosecutors also issued a travel ban to prevent TFL employees, ex-developers, and other relevant Terra token-related individuals from leaving South Korea.
In addition, the offices of seven exchanges were raided and transaction records seized as part of ongoing investigations into the case, according to the EWN report. The home of Terra co-founder Daniel Shin was also raided.
Kwon, who is in Singapore at press time, has responded to accusations of fraud and claims he is the Elizabeth Holmes of crypto. Holmes ran Theranos, a company famous for marketing a sleazy device that could supposedly detect disease with nothing but a drop of blood.
while Theranos couldn’t never deliver his marketing pitch. Kwon added that he didn’t think such a crash could happen even for a second.
“You have to step into the shoes of a founder and the ecosystem is approaching $100 billion. If you’ve had a winning streak and you’re reaching that scale, then you don’t think almost not that you could fail”
Social Media React to Do Kwon’s Interview
Disgruntled Terra users have so far blasted the interview as a flimsy attempt to sugarcoat the $40 billion crash. One user called the move a “mercy redemption arc” for Kwon and revived claims about $3 billion in LUNA (now LUNA Classic) allegedly dropped by TFL.
A spat between Terra community member FatManTerra and Guzmán also erupted as FatMan scrutinized the credibility of the interview and echoed concerns about “billions of dollars received” from the Terra ecosystem.