Terra’s Kwon Rejects Fraud Accusations, Gives Moral Support to Those Suffered from Collapse | news

Do Kwon, the founder of the notorious Terra ecosystem, has rejected accusations of fraud activity, saying he believed in his vision even though that belief turned out to be a failure.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

In an interview with the Wall Street Journal, Kwon denied fraud accusations, noting that many prominent players in the crypto industry shared his belief in terraUSD (UST). He said:

“I made confident bets and made confident statements on behalf of UST because I believed in its resilience and its value proposition. I’ve since lost these bets, but my actions 100% match my words. There is a difference between failing and running a fraud.”

Talking about those who suffered financial losses, Kwon only said he had been “devastated by recent events,” adding that he hopes that all the families who’ve been impacted “are taking care of themselves and those that they love.”

Kwon’s comments come after South Korea prohibited current and ex-developers of Terra from leaving the country amid ongoing investigation over the notorious collapse of the ecosystem.

According to local reports, the Seoul Southern District Prosecutor Office’s Joint Financial and Securities Crime Investigation Team barred several top executives of Terraform Labs from leaving South Korea.

Access more than 50 of the world’s financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

https://forexsites.info

Author of articles on trading and investments, which I have been doing for more than 8 years. Even from your phone, you can open a deal, buy shares, build up capital in assets that will bring dividends even when you stop working. You can't just not think about it.

Leave a Reply

Your email address will not be published.