Do Kwon: ‘I Am Heartbroken’ Over Pain Caused by UST Collapse
The admission comes after the stunning demise of the Terra blockchain’s flagship project. Source
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Do Kwon proposes Terra revival, including token redistribution plan
Terraform Labs co-founder Do Kwon has tabled a proposal to preserve the Terra ecosystem following the historic depegging of its algorithmic stablecoin, UST, and the resulting death spiral that plunged Terra (LUNA) tokens to practically zero. In a Friday post on Terra’s research forum, Kwon said, “The Terra community must reconstitute
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Do Kwon Proposes Restart of Terra Blockchain as UST, LUNA Plummet
The plan comes as Terra’s terraUSD (UST) stablecoin, which is supposed to be pegged to the price of $1, “death spiraled” below 15 cents this week – wiping out over $30 billion in value. UST’s sister token, LUNA, which propped up the stablecoin’s value, has fallen to below a penny
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Do Kwon Is the Elizabeth Holmes of Crypto
That raises a final possible parallel to Holmes: Some have made the argument that she was to a degree herself a victim of the Silicon Valley funding machine. Some venture capitalists, the logic goes, saw the marketing potential of her story and image, but avoided scrutinizing her abilities and ideas.
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'$DAI Will Die' Tweet Twisted Back on Terra's Kwon as UST Loses $1 Peg
DAI briefly surpassed UST as the biggest DeFi stablecoin on Wednesday. Original Source
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UST’s Do Kwon Was Behind Failed Stablecoin Basis Cash
“Yo degens, anyone remember what Basis was? It was one of the early ‘DeFi’ algorithmic stablecoins with high ambitions, but it was shut down due to SEC-related risks,” said Rick’s since-deleted Telegram account in the Basis Cash Telegram channel on Aug. 20, 2020. “Today we’re bringing Basis back from the
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Terra founder Do Kwon shares plan to save the UST stablecoin peg
Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan" for the Terra community. Terra is down 90% from its all-time highs, while the “stablecoin” UST is
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Why Terra Co-Founder Do Kwon Hyped Up This UST-based Airdrop
The Terra ecosystem keeps on expanding, increasing the total market cap of its native token LUNA. The cryptocurrency has managed to enter the top 10 digital assets by market cap replacing memecoins DOGE and Shiba Inu (SHIB). Related Reading | Terra’s UST Becomes First Decentralized Stablecoin To Surpass $10B Market Cap As
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Terra, CEO Do Kwon Ordered to Comply With SEC Subpoena Related to Mirror Protocol Investigation
A U.S. District Court judge in New York ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas the U.S. Securities and Exchange Commission (SEC) issued in its investigation of Terra’s Mirror Protocol, according to a filing dated Feb. 17. Source
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Do Kwon, Terra Claim SEC Violated Procedure in Ongoing Legal Fight
Terraform Labs and its CEO, Do Kwon, are challenging the U.S. Securities and Exchange Commission (SEC), claiming the regulator improperly served Kwon subpoenas at Mainnet 2021 despite not having jurisdiction over Kwon or his company. They have asked a New York court to dismiss the subpoenas.Terraform filed a motion last
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