The crypto community’s response to Do Kwon’s first interview since Terra’s implosion has been lukewarm, with many saying they learned nothing new.
Do Kwon’s interview: does not say something we do not already know and it says lots lower than you count on to listen to. The journalist appears to be incisive, however he isn’t, it reveals that all the things is agreed and the video is closely edited. Pure dog-shit 🐶💩
— Peter The Revenant (@PeterTheTerran) August 15, 2022
According to the community, the interview was extra of a public relations stunt and an try at injury management.
— Do Kwon 🌕 (@stablekwon) August 16, 2022
The interview was performed by Coinage’s Zack Guzman, who revealed that Terraform Labs invested within the mum or dad firm of the media firm. Guzman additionally stated that he invested in Terra.
Of course, as I disclose in our piece:
1) I held UST and LUNA, the cash within the story that went to $0.
2) Kwon’s firm, Terraform Labs, was an investor in Coinage’s mum or dad firm.
3) And since it’s Coinage’s debut, after all I need folks to observe. Why is every problematic?
— Zack Guzmán (@zGuz) August 15, 2022
Meanwhile, Guzman says he isn’t buddies with Kwon and that the Terra founder had “no agreed upon questions,” nor “first looks” at his questions.
Kwon hints at insider information in Terra’s crash
In the recorded interview, Kwon stated that an insider probably performed an element within the large crash because Terraform Labs staff had entry to sure info.
“So if you’re asking me whether there was a mole at Terraform Labs, that’s probably ‘yes.’ Whether somebody tried to take advantage of that particular opportunity, I would say that the answer is, ‘Yes.’”
The info in query is the switch of funds between buying and selling swimming pools that led to an imbalance that triggered the collapse. The switch was alleged to be personal however was leaked to the general public by a “mole.”
Denies Ponzi scheme allegations
Kwon denied that Terra operated as a Ponzi scheme. According to him, early buyers within the undertaking had been additionally the largest losers from the crash.
Although he didn’t quantify the quantity he misplaced personally, he described it as being “down infinite.”
While justifying his confidence within the success of the Terra ecosystem on the time, he admitted that it now appears a bit of irrational.
Kwon says no contact from Korean investigators
Kwon denied any charges towards him in South Korea, saying the authorities had been but to contact him.
Meanwhile, South Korea has been investigating Kwon, co-founder Daniel Shin, and Terraform Labs operations for the previous few months.
There was a raid on Shin’s home final month as a part of the investigations, and prosecutors additionally issued a discover of arrival for Kwon in case he returns to the nation whereas additionally banning Terra staff from leaving the nation.
Kwon admits accountability
Kwon admitted accountability for giving alternatives for vulnerabilities within the first place.
“If those opportunities existed, the blame is on the person who presented those vulnerabilities in the first place … I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.”
Kwon additionally admitted that he may need been too optimistic concerning the undertaking. “I’ve never thought about what could happen to me if this fails.”