Terra Luna Founder Do Kwon net worth 2022 | Do Kwon Bio

Do Kwon is the founder and CEO of the South Korean business Terraform Labs, which is headquartered in Singapore. Terra LUNA was developed by Do Kwon at Terraform Labs (now LUNA Classic after a crash).

Terra-Luna-Founder-Do-Kwon-net-worth-2022-Do-Kwon-biography

The Terra USD (UST), an algorithmic stablecoin designed to maintain a 1:1 peg with the US dollar, was one of the key features of Terra Luna. To put it in a nutshell, UST pegging is a straightforward method to hedge against fluctuations in Terra Luna’s market cap or price, which will help it remain a stablecoin. Please stay with me to know more about Terra Luna Founder Do Kwon net worth 2022 | Terra Luna Bio | Do Kwon Net Worth and Biography

Do Kwon net worth

The Wall Street Journal said that when LUNA was trading at 100 USD before the crash, Do Kwon was likely a multi-billionaire. In a matter of days in May 2022, Do Kwon’s wealth was nearly wiped out by the Terra Luna crash. A total of US$ 45 billion of public investment flowed into the crisis; The money just disappeared. (Terra Luna Founder Do Kwon net worth 2022 | Terra Luna Bio | Do Kwon Net Worth and Biography)

Who Is Do Kwon?

Do Kwon was born on September 1, 1991 in South Korea. Known to be enrolled in the private preparatory Daewon Foreign Language High School in Seoul, South Korea. At Stanford University, he later pursued higher education by studying computer science. Do Kwon has previously worked at Apple and Microsoft, albeit for short periods at both. (Terra Luna Founder Do Kwon net worth 2022 | Terra Luna Bio | Do Kwon Net Worth and Biography)

Basic Information
Stage Name: Do Kwon
Real Name: Kwon Do-Hyung
Occupation: Cryptocurrency Developer
Date Of Birth/Age: 06 September 1991 (31 Years Old
Place of Birth: South Korea
Gender: Male
Nationality: South Korean
Marital Status: Married
Education: Daewon Foreign Language High School
Stanford University

Terra LUNA: The Reason That Flushed Away Do Kwon Net Worth

The native coin of the Terra blockchain system is called LUNA. Because the US dollar is inherently limited in real banks in the United States and other reserves around the world, stable coins such as Tether (USDT) are tied to the real US dollar, which is itself a stable currency. Additionally, because the US dollar is issued by the United States of America, a sovereign nation, its value and worth increases daily and does not decrease, making the native token USDT stable and secure.

On the other hand, Terra USD (UST), another stable token created by Terraform Labs, was used to gauge the value of Luna. Its value is not linked to any real money, such as the US dollar; Rather, it was calculated using a complex system of codes to be equal in value to the US dollar. As a result, it was referred to as a stablecoin prior to the crash.

The main reason for the crash was the de-pegging of Terra Luna (Luna Classic currently) with Terra USD (UST), which, in my opinion, could be a server-side technical problem, but could also be a planned company. Judging by the accident she was not responding to trolls or her users on Twitter. The business pretended to be non-existent for the first several days. Additionally, the developer of Terra Luna has a track record of developing altcoins. To know more abou Do Kwon click here

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The corporation issued several million additional LUNA tokens to compensate for the token’s declining value, although this action caused the value of LUNA to decline rather than increase rapidly. The company didn’t even burn additional LUNA coins to try to stabilize the token’s price.

Several well-known cryptocurrency exchanges, including WazirX, CoinDCX, Binance and Coinbase, stood ready to assist Terraform Labs during that critical time and technical support to help them stabilize the value of Terra Luna by re-linking the token with UST. Used to provide , , But instead, he didn’t even accept their help. It sure sounds weird.

My Final Words On Do Kwon net worth

I don’t think Du Kwon is a good CEO or messiah. In a later interview he said, “I am solely responsible for the accident.” He said, “I never thought what could happen to me if it fails.” “I live a reasonably frugal life, so it doesn’t concern me,” he said on this.

He mentioned things in the interview that would break the hearts of regular people whose fortunes were destroyed in the crisis. So, in my opinion, Do Kwon doesn’t deserve to be a place for regular people to save their hard earned money. That’s all I have to say about Do Kwon. Your thoughts on the matter are welcome in the comments section.

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