Germany: Bitcoin
(77WABC) — Do Kwon, the creator of defunct cryptocurrencies TerraUSD and LUNA, is now the subject of criticism and investigation.
This comes after the failure of his enterprise sparked a significant market-wide catastrophe last week. He had been uncharacteristically silent over the past few days as the cryptocurrency tanked, but made a series of tweets later Friday.
1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.
I am heartbroken about the pain my invention has brought on all of you.
— Do Kwon 🌕 (@stablekwon) May 13, 2022
A few hours after proposing a “terra ecosystem revitalization plan”, Kwon returned to Twitter for the first time in two days to express regret over the way events had transpired.
Terra’s native LUNA asset was valued at $120 at the beginning of April. It plummeted drastically and was trading at approximately three tenths of one cent.
