Do Kwon, the co-founder and managing director of the spectacularly failed crypto project Terra (LUNA), has spoken out in public for the first time after the collapse, whereupon the crypto community has reacted in a highly polarized way.
Although Kwon tried to clear his name in this interview, the majority of crypto users remain critical of the Terra CEO. For example, podcaster Eric Conner points out the seemingly lack of justice in the case of Kwon, because while one of the leading developers of the crypto mixer Tornado Cash was arrested and now “has to fear for his life”, the Terra boss can continue to “party”, although he has caused billions of dollars of damage in the crypto industry.
The crypto analyst FatManTerra also comments and thinks that the interview is ultimately just “hot air”, because Kwon would tell a lot of lies here and try to portray the fraud he committed in such a way that he seems innocent.
Crypto entrepreneur and Bitcoin (BTC) advocate Cory Klippsten, who predicted the general end of crypto savings platforms in the wake of the Terra debacle, also speaks up and encourages damaged crypto users to take legal action against Kwon. Crypto analyst Hailey Lennon, in turn, believes that the interview does not deserve any attention from the community, which is why she deliberately does not share the conversation on social media.
Overall, the rejection prevails, but some crypto investors are still loyal to Kwon and insist on his innocence. For example, one Twitter user says that the Terra CEO is still trying to build a “better LUNA”.
In June, the South Korean authorities imposed a travel ban on the employees of the local crypto company Terraform Labs, which is responsible for Terra. Because Managing Director Do Kwon is already in Singapore, South Korea is considering invalidating the passport of the controversial crypto entrepreneur so that no further escape is possible.