Unchained

Do Kwon of Terra: 'It Was Never Really About Money or Fame or Success' - Ep. 408

Listen Later
Do Kwon, cofounder of Terraform Labs, discusses the charges against him, gives a message to Terra victims, answers allegations about potential fraud and non-transparent business practices, and much more.


Show highlights:
  • whether Do finds the charges based on the Capital Markets Act legitimate 
  • why he doesn’t want to discuss his location
  • whether the South Korean government is lying about the accusations against him
  • what happened with the BTC held by the Luna Foundation Guard
  • whether Do regrets being so arrogant in his tweets
  • what he would say to the people who lost huge amounts of money in Terra or family members of people who committed suicide due to its collapse
  • the decision to set Anchor’s yield near 20% 
  • why Terra had a large SDT pre-mine that was not proactively disclosed
  • whether Do’s actions show he didn’t think that the algorithmic mechanism was sufficient to keep UST pegged to the dollar
  • whether Terraform Labs cashed out $2.7 billion using Degenbox
  • why there were no disclosures about Chai terminating its agreement with Terra
  • why the Terra blockchain went through a hard fork without a public discussion
  • the failure of the basis cash stablecoin, also worked on by Do Kwon
  • whether an algorithmic stablecoin can work
  • the week of the UST depeg and what happened to the funds held by LFG
  • where the 3 million Luna unlocked per month by Project Dawn went
  • when the LFG will return funds to UST holders
  • what Do would do differently if he had the chance to go back

    •  

     * Quick correction*

     At 7min 18sec, I misspoke, the Korean government posted a pdf for Do Kwon’s passport revocation, not his arrest warrant. 


     

    Thank you to our sponsors!

    Crypto.com

    Chainalysis

    web3 with a16z

     

    Episode Links

    Do Kwon:

    • Twitter

     

    Previous Coverage of Unchained on Do Kwon and Terra:

    • How Will the Legal Case Against Do Kwon Play Out in South Korea?
    • Do Kwon Is Backing UST With Bitcoin – And Here’s What Else He Is Building
    • The Legal and Regulatory Fallout From Terra’s Collapse: Who Will Pay?
    • The Chopping Block: Does the New Terra Have Any Chance?
    • Hester Peirce’s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF
    • Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed

      •  

      Devastating Stories

      • One man commits suicide
      • Fat Man Terra’s thread with several stories

        •  

        SDT pre-mine

        • CoinDesk Korea article

        Anchor yield

        • JTBC article reporting core devs wanted a lower yield

         

        Chai 

        • WSJ article
        • Do’s tweets about Chai:
        • 2.5 million users
        • Tweet in May 2021
        • Tweet in May 2021 #2
        • Tweet in January 2021

          •  

          Abracadabra Degenbox

          • $2.7 billion cash out
          • TFL Exit Liquidity dashboard on Dune

             

            Project Dawn

            • Launch
            • The Defiant article

              •  

              Basis Cash

              • CoinDesk article

               

              Luna Foundation Guard

              • Ergo-BTC on-chain evidence of more than 313 BTC
              • Dumps BTC
              • LFG postpones compensation

                •  

                Allegations against Do Kwon

                • SBS news reporting Do moved funds to the Virgin Islands.
                • Seoul Police Probe Allegation of Embezzlement by Terraform Staff
                • South Korea Launches Investigation into Company Behind Luna Crypto Crash
                • Class action against Do Kwon
                • Was LUNA a Security?
                • Korean prosecutors are looking into Terra
                • Red Notice
                • “Not on the run”
                • Kwon’s Passport

                  •  

                  SEC Actions Against Terra

                  • SEC Investigating UST Stablecoin Blowup in Fresh Threat to Terra
                  • Terraform Labs Loses US Appeal over SEC Subpoena

                    • Learn more about your ad choices. Visit megaphone.fm/adchoices

                    ...more
                    View all episodesView all episodes
                    Download on the App Store
                    UnchainedBy Laura Shin