Do Kwon Confident on Rebuilding Terra (LUNA) From the Ashes! Here’s What’s His Upcoming Strategy Of Action – Coinpedia – Fintech & Cryptocurreny News Media

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Do Kwon Confident on Rebuilding Terra (LUNA) From the Ashes! Here’s What’s His Upcoming Strategy Of Action – Coinpedia – Fintech & Cryptocurreny News Media

Do Kwon, CEO of Terraform, expressed his “confidence” in the possibility of successfully reconstructing the Terra (LUNA)  tech (LUNA) following the collapse in May 2022 in an interview with the Wall Street Journal.

Do Kwon Is still Positive

Several teams are developing and redeploying their applications from the old blockchain tech to the new one has given him confidence, reveal Do Kwon.

“Unfortunately, Terra (LUNA) 2.0 appeared to be somewhat dead on arrival because it did not assist ruined investors in recouping their enormous losses. Nevertheless, he has voiced hope for reviving a bigger and more powerful Terra (LUNA) blockchain.” 

His tweets likewise demonstrated his trust in the ability of blockchain tech to gain  over investors:

Do Kwon assert that after “losing” almost all of his assets because of  the LUNA-UST collapse and losing “bets” on the of LUNA, his conviction is still unwavering.

“I am certain of UST’s potential and the value it can contribute, thus I have gladly accepted bet offers and statements about it with assurance. Even though I have so far lost those bets, my words are always fulfilled by my deeds. and fraud are two distinct things.”

Scams and legal disputes have rattled Terra!

Terraform Labs and Do Kwon have been involved in a few legal disputes and litigation since the collapse. Greater than 90 Korean investors who suffered losses filed a complaint against Mr. Do Kwon, charging him with fraud and illegal fundraising. 

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The Seoul prosecutor’s office acknowledged that it was looking into the matter but was unable to other details. All Terraform Labs in , regardless of of whether they are still employed by the or have left it, are at present subject to a travel and exit ban enforced by the government.

As reported by the WSJ, a few members of the digital currency community have likewise accused Kwon of orchestrating a complex scam. Kwon was referred to as “a fraudster” by Cory Klippstein, the CEO of Swan , according to the WSJ.

A United States citizen sued Terraform Labs, Mr. Do Kwon, and the financing funds that supported the last week, accusing them of selling unregistered and engaging in fraud.

Terraform Labs did not comment on these investigations but stated it would take legal action to protect itself.

Terra (LUNA)’s  price, on the other hand, has been steadily since then it was revived and is at present hovering around the $1.95 level.

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