Terra co-founder Do Kwon names the person responsible for the collapse

Co-founder of Terra Do Kwon you are in conversation with Trustless Media co-founder and former CNBC reporter Zack Guzman, poured ashes on his head and said he was solely to blame for his company's failure.

EXCLUSIVE: I sat down with Terra Founder @stablekwon for his first interview since the project's $45 billion collapse

Our 2-day conversation premieres only on the community-owned NFTV series @coinage_media. Episode 0 coming Mondaypic.twitter.com/9svfn9wBDn

— Zack Guzmán (@zGuz) August 14, 2022

Terra co-founder repents

Kwon acknowledged that he was the one who made the project vulnerable, which led to the multi-billion collapse of the entire ecosystem. Terra collapsed badly in May and was accused of fraud. These allegations not only tarnished Terry's reputation, but Kwon himself.

Do Kwon went on to insist that he has never shorted any cryptocurrency in his entire life, denying rumors that he profited from the project's failure. However, this truth will probably never come out due to the anonymous nature of cryptocurrencies and blockchain.

Critics and reporters often compare the dramatic and controversial downfall of Terra to that of Theranos. Accordingly, critics directly compare Do Kwon to Theranos founder Elizabeth Holmes. The blood-testing startup went bankrupt earlier this year after Holmes was convicted of fraud and misleading investors. Responding to these comparisons in an interview, Kwon argued that the key difference between the infamous biotech scam and Terra is that Terra actually has a working product.

Co-founder Terra Do Kwon assures that the coin was performing well before the sudden collapse and that he had no intention of playing a foul game leading to the crash. There are many active investigations and lawsuits against Kwon and Terra and he is even facing jail time. However, the co-founder is confident that his career will continue in cryptocurrencies and be successful.

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.