Terra was a “Massive Market Failure,” but not a Scam: Do Kwon

• Do Kwon talks about the charges against him in a recent episode of the Unchained Podcast, on October 18, 2022 with Laura Shin.
• He shared his message to Terra victims, and answered the allegations about potential fraud and non-transparent business practices.

After the Terra Collapse, Terra co-founder, Do Kwon, joined Unchained Podcast.

In the Unchained podcast, Kwon covered major topics such as the charges based on the Capital Markets Act legitimate, about the South Korean government is lying about the accusations against him, what happened with the BTC held by the Luna Foundation Guard, why Terra had a large SDT pre-mine that was not proactively disclosed, about the Terraform Labs cashed out $2.7 billion using Degenbox and relatively many more.

During the Unchained podcast, Kwon answered Laura Shin regarding the new regulations by financial regulators that “We are a little bit disappointed with the way prosecutors are attempting to create new regulations through criminal enforcement proceedings. Whereas that should really be in the job description of the legislature or at the very least the financial regulators.”

Kwon’s Old Tweets

Kwon discusses over his old tweets that somewhere sounds quite aggressive, that “The industry lingo for this is called shitposting. In retrospect, I should have held myself to a more stringent standard.” He clarifies that the way he responded was a reaction of banter and used by denizens of crypto Twitter.

“Just because there’s anonymous cartoon characters that are, shall we say, more liberal with the words that they’re using, does not mean that I should have followed suit.”

Kwon answered the question about his different-doing in the run-up to the Terra ecosystem’s crash, he replied by saying that “being less aggressive and less joking on Twitter.”

He moreover added “Spending less time on social media and talking to people I think definitely would have helped probably let me get a lot more work done.” In the continuation over his old posts, he named his old tweets as “quite cringe,” and said “People have told me to take them down but I do think it’s worthwhile just keeping them on there you know just for record-keeping and posterity purposes.”

Laura Shin further shared that “Kwon insists that Terra was a “massive market failure,” but not a scam. And…he still wants to build,” As he said, “The way that I think about it is, I am but 31, and I would still love to contribute.”

Source: https://www.thecoinrepublic.com/2022/10/19/terra-was-a-massive-market-failure-but-not-a-scam-do-kwon/