Do Kwon of Terra: 'It Was Never Really About Money or Fame or Success' - Ep. 408
Do Kwon, cofounder of Terraform Labs, discusses the charges against him, gives a message to Terra victims, answers allegations about potential fraud and non-transparent business practices, and much more.
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Show Notes
Do Kwon, cofounder of Terraform Labs, discusses the charges against him, gives a message to Terra victims, answers allegations about potential fraud and non-transparent business practices, and much more.
Show highlights:
- whether Do finds the charges based on the Capital Markets Act legitimate
- why he doesn’t want to discuss his location
- whether the South Korean government is lying about the accusations against him
- what happened with the BTC held by the Luna Foundation Guard
- whether Do regrets being so arrogant in his tweets
- what he would say to the people who lost huge amounts of money in Terra or family members of people who committed suicide due to its collapse
- the decision to set Anchor’s yield near 20%
- why Terra had a large SDT pre-mine that was not proactively disclosed
- whether Do’s actions show he didn’t think that the algorithmic mechanism was sufficient to keep UST pegged to the dollar
- whether Terraform Labs cashed out $2.7 billion using Degenbox
- why there were no disclosures about Chai terminating its agreement with Terra
- why the Terra blockchain went through a hard fork without a public discussion
- the failure of the basis cash stablecoin, also worked on by Do Kwon
- whether an algorithmic stablecoin can work
- the week of the UST depeg and what happened to the funds held by LFG
- where the 3 million Luna unlocked per month by Project Dawn went
- when the LFG will return funds to UST holders
- what Do would do differently if he had the chance to go back
* Quick correction*
At 7min 18sec, I misspoke, the Korean government posted a pdf for Do Kwon’s passport revocation, not his arrest warrant.
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Episode Links
Do Kwon:
Previous Coverage of Unchained on Do Kwon and Terra:
- How Will the Legal Case Against Do Kwon Play Out in South Korea?
- Do Kwon Is Backing UST With Bitcoin – And Here’s What Else He Is Building
- The Legal and Regulatory Fallout From Terra’s Collapse: Who Will Pay?
- The Chopping Block: Does the New Terra Have Any Chance?
- Hester Peirce’s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF
- Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed
Devastating Stories
- One man commits suicide
- Fat Man Terra’s thread with several stories
SDT pre-mine
- CoinDesk Korea article
Anchor yield
- JTBC article reporting core devs wanted a lower yield
Chai
- WSJ article
- Do’s tweets about Chai:
- 2.5 million users
- Tweet in May 2021
- Tweet in May 2021 #2
- Tweet in January 2021
Abracadabra Degenbox
Project Dawn
Basis Cash
- CoinDesk article
Luna Foundation Guard
Allegations against Do Kwon
- SBS news reporting Do moved funds to the Virgin Islands.
- Seoul Police Probe Allegation of Embezzlement by Terraform Staff
- South Korea Launches Investigation into Company Behind Luna Crypto Crash
- Class action against Do Kwon
- Was LUNA a Security?
- Korean prosecutors are looking into Terra
- Red Notice
- “Not on the run”
- Kwon’s Passport
SEC Actions Against Terra
- SEC Investigating UST Stablecoin Blowup in Fresh Threat to Terra
- Terraform Labs Loses US Appeal over SEC Subpoena
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