With the loss of $ 45 billion after the collapse of Terraform Labs, many companies in the crypto money industry that had a financial relationship with the Terra (LUNA) network were driven into bankruptcy. The founder of the platform, Do Kwon, gave his first interview after this big collapse.
On Twitter yesterday, Zack Guzmán, co-founder of Coinage Media, released a teaser for an interview with Terra (LUNA) CEO Do Kwon. In the teaser video, Do Kwon argues that wild west conditions prevail in the crypto market, while saying that Terra admits that the collapse of the stablecoin appears to be a scam.
When asked how he felt during the crash, Do Kwon admits that it was very difficult, but that he believes the algorithmic stablecoin industry has become the standard and he lost by placing a big bet.
The collapse of the Terra ecosystem deeply shook the cryptocurrency markets. Many individual and institutional investors suffered serious losses. Thereupon, South Korean authorities expanded their investigations. South Korean prosecutors investigating Terra's collapse have asked the Ministry of Justice to issue a "notice on entry" for Terra founder Do Kwon and a travel restriction for Terra's co-founder Shin Hyun-seong.
In addition, investigators from the Seoul Southern District Attorney's Office raided several local exchanges, including the country's largest cryptocurrency exchanges, last month and seized transaction records to investigate the circumstances that led to the collapse of the Terra platform.
South Korean Minister of Justice Han Dong-hoon, who took decisive steps to shed light on the incident, went to the United States to investigate criminal activities related to crypto assets and talked about potential cooperation between the two countries. In the just-released interview, Terra founder Do Kwon is expected to respond to fraud allegations directed against him.