Do Kwon says he is 'heartbroken' in new statement, claims no UST or LUNA sold during crisis - Aliens: AI Crypto News & Markets Updates
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Do Kwon says he is 'heartbroken' in new statement, claims no UST or LUNA sold during crisis

PublisherPublisher
The Block

Fri, May 13, 2022

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Terraform Labs co-founder and CEO Do Kwon broke his social media silence early Friday evening with a trio of tweets about the collapse of Terra's LUNA token and associated stablecoin, UST.

May 13, 2022 2/ I still believe that decentralized economies deserve decentralized money – but it is clear that — Do Kwon 🌕 (@stablekwon) $UST in its current form will not be that money.

As The Block has covered in the past week, the paired meltdown of the algorithmic stablecoin UST and Terra's native LUNA asset resulted in steep losses for those exposed to the market.

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