Do Kwon think the new Terra will be stronger than ever before many are skeptical about this idea after the crash of the UST stablecoin that led the market into a downward spiral so let’s have a closer look at today’s latest altcoin news.
The collapse of the UST stablecoins would have scared away some of the trash-talking but Do Kwon thinks the new terra will actually be stronger than ever before. Do Kwon came up with a new coin but LUNA seems to be following the old story. LUNA was trading near its all-time low while Kwon is in the middle of lawsuits. Some however still believe that all negative press around him is not fair.
Terraform Labs Chief do Kwon had many followers but there are only a few well-wishing associates. One such is Ronald AngSiy who is a vice president at the Defi company Intellabridge Technology. He added:
“I feel really bad for Do because of the way his name is being dragged through the mud right now. On Twitter, he can come off as a megalomaniac, but he’s not like that in person.”
AngSiy interacted with Kwon in busienss meetings in the past and served as an ambassador for Terra. He claimed to have lost $1 million of his investments in the crash but this didn’t deter him from thinking less highly of the founder of Terra. The communtiy remaiend divided. To some, Do Kwon is a trash-talked who called his critics “poor” and those in his inner circle actually think he is a misunderstood genius.
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The founder made a few outlandish claims and trumpeted Terra’s mission to create a decentralized system that can run by itself. He even threatened competitors and confessed his joy in watching his rivals fall so thanks to his ego, he managed to create a cult that claimed themselves “Lunatics” with pride.
Experts warned that the experiment was quite risky but the naysayers grew louder after the death spiral and to be honest, it makes a great case for the hype of the outsiders. He toned it down on Twitter after the crash so he now only occasionally posts developments on Terra 2.0 and works on something new. The community members are rebuilding the blockchain ecosystem and while the investigations into Terra are slowing down, many prominent figures in the space think there are clear signs of why investors should not fall for another project related to Do Kwon.
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