Just-In: Do Kwon Regrets Fall Of Terra UST In A New Interview

Do Kwon, co founder of Terra labs after replying to the critics over Twitter finally came out to give an interview. The crypto fugitive Kwon talked about the historic fall of Terra Luna and the deppeging of the UST. However, this event triggered the collapse of the global crypto market.

Do Kwon’s take on Terra UST fall

In the interview, Do Kwon stated that he deeply regrets how everything turned out with Terra’s stablecoin UST. However, he urged the new developers to learn from what happened in the Terra.

He added that learning from this incident will help them to create decentralized money that is not just censorship resistant but it will be more transparent and resistant to failure. However, he mentioned that by keeping failures apart, he had worked and built some interesting apps. This also includes creating UST.

Crypto fugitive highlighted that building Terra UST and watching it scale and grow over the years was very valuable. This can surely help other people to create a decentralized currency.

The collapse of the Terra’s UST and LUNA went on to put a huge dent in the crypto market cap. More than $60 billion vanished from the market in just a few days.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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