This guy. This is the guy that took me on a wild ride from $2k -> $15k -> 0. This is Do Kwon. He was the founder of Terra Luna, which took the crypto world by storm before crashing spectacularly.
We're not going over the story of Terra Luna and UST in this post because by now it's been done to death. If you want the background - this post is where you want to go.
For the first time since the crash in April, Do Kwon has spoken out. He sat down for an interview with Coinage Media.
Here are the main takeaways from the interview...
- Do Kwon says he developed an alter ego for marketing purposes - Do Kwon was known for his brash (sometimes aggressive) personality. When people used to mention possible faults and issues with Terra, he used to call them "idiots" or worse. Many thought this was him becoming overconfident and believing his own hype. But Do Kwon says it was mainly a marketing tactic.
- Do Kwon outlines the difference between him and Elizabeth Holmes - His argument is that Theranos and Elizabeth Holmes had a product which never worked, which they lied about. On the contrary, UST and the Terra ecosystem was a product that did work quite well... until the day it stopped working.
- He believes there was a "mole" at Terraform Labs - The UST stablecoin was targeted at a time when it was susceptible to attack. Do Kwon thinks that the attackers had information like when was the best time because of a mole within his organisation.
- And he plans to keep building - He is currently working on Luna 2.0, which is an entirely new blockchain. Hey, if Adam Neumann can raise money after blowing through a tonne of investment at WeWork... why can't Do Kwon?