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Terra founder says he is in full cooperation with all govt agencies

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Terra founder says he is in full cooperation with all govt agencies 2

Terraform Labs founder Do Kwon confirmed that he is not running away and also he is in full cooperation with the government agencies.

Do Kwon is the founder of Terraform labs. Terraform labs is a developer team that developed the Terra blockchain with two native tokens, namely LUNC (formerly Luna) and UST stablecoin. Both of the native tokens of the Terra blockchain were integrated via a protocol with each other to maintain the value of each UST exactly equal to $1. During extreme volatility in the crypto market, in May of this year, the whole ecosystem of Terra blockchain collapsed to almost zero value. Further team launched a new Luna coin and named the old Luna a LUNA classic.

Due to the Terra ecosystem collapse, many investors faced huge losses, and also few reports confirmed that some people committed suicide because of their loss of all life-saving in Luna coin. Many people claimed that Terra founder Kwon was aware of this thing and he was fully responsible for that incident.

On 17 September, Kwon took to Twitter to inform the Terra Community and his followers that he is not running anywhere, instead he is at that place where his privacy is maintained.

In short, Kwon indirectly claimed that he is living under better privacy to live comfortably and it should not be considered an offense that he is remaining away from Terra ecosystem collapse & responsibility.

Further, Kwon said that he is cooperating with every government agency, which is approaching to talk about the whole incident that happened with the Terra blockchain ecosystem.

Kwon also confirmed that he will try to explain the whole thing truly, which happened with the Terra project, to defend himself.

Read also: Bitcoin will hit $100K in 2025, says Bloomberg’s Mike McGlone

Terra founder says he is in full cooperation with all govt agencies

 

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