Terra Founder Do Kwon Says Luna Collapse ‘My Responsibility Alone’
Terra (LUNA) founder Do Kwon has said in a recent podcast interview that the collapse of Terra due to design weaknesses is “my responsibility alone,” while admitting that “it’s not easy” to own up to the responsibility.
Speaking in an interview with host Laura Shin on the Unchained Podcast, Do Kwon admitted that there may have been issues with Terra’s design that contributed to its downfall, and that he is responsible.
“Whatever issues existed in Terra’s design, it’s weakness [in responding] to the cruelty of the markets, it’s my responsibility and my responsibility alone,” Kwon said.
The controversial crypto entrepreneur added that he is still bothered by the fact that so many users were let down and hurt due to Terra’s collapse.
“So, for the community […] the downfall of the companies that chose to build on Terra, for the hundreds of thousands if not millions that used Terra currency [and] the Terra ecosystem which was all built on the stability of UST, I own up to that responsibility fully and it’s not easy,” he said.
Asked by show host Laura Shin about his current whereabouts, Do Kwon declined to answer, although it is clear that he is not in his native South Korea. In addition, police in Singapore – the South East Asian city-state Do Kwon until recently lived in – has confirmed that he is no longer there.
“It’s not in the interest of being on the run […] that I don’t want to disclose where I live, it’s just that every time the location where I live becomes known, it becomes almost impossible for me to live there,” Kwon said.
He went on to explain that there were “lots of situations” during the market crash in May when his personal security came under threat due to people coming to his place of residence. That is “the main
Read more on cryptonews.com
