Because the Terra co-founder and CEO Do Kwon breaks his silence concerning the collapse of the algorithmic stablecoin TerraUSD Basic (USTC) and LUNA 2, the group responded with varied sentiments towards the Terra govt.
Regardless of Kwon’s makes an attempt to clear his identify in an interview, group members stay sad with the Terra CEO. In a tweet, podcaster Eric Conner compared Do Kwon’s scenario with the Twister Money developer who has been arrested. In line with Conner, Kwon scammed billions and remains to be “partying” whereas Twister Money builders wrote some code for privateness and at the moment are “fearing for his or her lives.”
Crypto researcher FatManTerra additionally shared his ideas on Kwon’s interview. The researcher described the interview as a “nothingburger.” FatManTerra tweeted that the Terra CEO lied about many issues within the interview and tried to explain fraud in a approach that avoids being implicated however fails at doing so.
Bitcoin (BTC) evangelist Cory Klippsten additionally weighed in. Klippsten inspired those that lose their cash within the Terra collapse to pursue authorized motion towards Do Kwon. Then again, analyst Hailey Lennon believes that the Do Kwon interview would not deserve the group’s consideration. “I’m not sharing a hyperlink as a result of it doesn’t deserve clicks,” she wrote.
Whereas there’s quite a lot of criticism towards the current Do Kwon interview. Some nonetheless attempt to shill LUNA 2 and proclaim that Kwon is harmless. A Twitter person wrote that the Terra CEO is presently constructing a “higher LUNA” and didn’t change his daughter’s identify.
In June, South Korean prosecutors imposed a travel ban on Terraform Labs staff. Nevertheless, since Kwon is already in Singapore, the authorities might take into account invalidating his passport as a way to launch a complete investigation towards him.
In July, the authorities in South Korea acted towards those that have been linked to the Terra collapse. Prosecutors raided 15 entities including exchanges Upbit, Bithumb, Coinone, Korbit and Gopax. The act was a response to the numerous authorized complaints towards the corporate for the stablecoin incident.