Terra Luna Founder Do Kwon net worth 2022 | Reason Behind Luna Crash

Terra Luna Founder Do Kwon net worth 2022 :

Do Kwon is the founder and CEO of Singapore-based Korean company Terraform Labs. Kwon from Terraform Labs created Terra LUNA (now LUNA Classic after the crash)?

One of Terra LUNA’s key features is Terra USD (UST), a stablecoin algorithm designed to maintain a 1:1 parity with the US dollar. Avoid volatility in the market cap or price of Terra LUNA. This will help the currency remain stable.

Do Kwon net worth

Do Kwon was likely a billionaire when LUNA traded at $100 before the crash, according to the Wall Street Journal. In just a few days in May 2022, the Terra LUNA accident destroyed nearly all of Do Kwon’s wealth. That accident ruined the money. Government invests $45 billion, money disappears into thin air.

Who Is Do Kwon?

Do Kwon was born on September 1, 1991 in South Korea. Do Known attended Daewon Foreign Language High School, a private school in Seoul. Later, he went to South Korea to study abroad and studied computer science at Stanford University. Previously, Dokwon worked at Microsoft and Apple, but only worked for three months at each company.

Basic Information
Stage Name:Do Kwon
Real Name:Kwon Do-Hyung
Occupation:Cryptocurrency Developer
Date Of Birth/Age:06 September 1991 (31 Years Old
Place of Birth:South Korea
Nationality:South Korean
Marital Status:Married
Education:Daewon Foreign Language High School
Stanford University

Terra LUNA: The Reason That Flushed Away Do Kwon Net Worth

LUNA is the original token of the Terra Blockchain system. Stablecoins like Tether (USDT) are pegged to the real U.S. dollar. It’s a self-stabilizing coin because dollars are held in real U.S. banks and other reserves around the world. U.S. dollars are issued by the United States. Therefore, its value is increasing day by day, not decreasing. This makes the original USDT token stable and safe.

On the other hand, the value of LUNA is designated Terra USD (UST), another stablecoin developed by Terraform Labs. The complex determinate value is equivalent to the value of the US dollar so it was called a stablecoin before it collapsed.

The main reason for the failure was the split of Terra LUNA (currently LUNA Classic) with Terra USD (UST), which I think could be a technical server failure. But it may have been a failure of the company’s plan ahead, until the company responded to other users and trolls on Twitter in the first few days. The company acts like it doesn’t exist. Additionally, the creators of Terra LUNA have a history of making failed coins.

To offset the low price of LUNA, the company created millions of LUNA tokens. But instead of increasing the value of LUNA, it has fallen sharply. But the company did not burn any additional LUNA tokens that were reversed.

Several leading cryptocurrency exchanges such as WazirX, CoinDCX, Binance, Coinbase are ready to assist Terraform Labs at this critical time. These companies are ready to provide technical support to help stabilize the value of Terra LUNA by linking tokens in Cheng Yifu, and vice versa. They don’t even accept his help. Doesn’t that sound weird?

My Final Words On Do Kwon net worth

In my opinion, Dokwon is not a good CEO and savior. “I take full responsibility for the accident,” he said in an interview after the accident. “I never thought if a failure would happen to me,” he added, “I don’t mind because I live a relatively frugal life. life.”

Ordinary people who lost their fortune in this accident will be heartbroken to hear what he said in the interview. So I don’t think Do Kwon should create something that ordinary people have to collect their hard-earned wealth. This is my last word on Do Kwon. Let us know what he thinks about it in the comments section.

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