Do Kwon Says He’s ‘Heartbroken’ Over LUNA and UST’s Collapse

Terraform Labs co-founder and CEO Do Kwon returned to Twitter for the first time in two days to express sadness over the collapse of Terra’s LUNA token and associated stablecoin, UST. Terra Founder Finally Speaks on the Whole Fiasco After being silent for the past few days as the Terra network goes into catastrophe, co-founder Do Kwon finally broke his social media silence early Friday evening with a series of tweets concerning the demise of the LUNA token and its related stablecoin, UST. 1/ I’ve spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging. I am heartbroken about the pain my invention has brought on all of you. — Do Kwon 🌕 (@stablekwon) May 13, 2022 A few hours after proposing a “Terra ecosystem revitalization plan” to the network’s research forum, Kwon returned to Twitter for the first time in two days to say, “I am heartbroken about the pain my invention has brought on all of you.” He added that he had spent much of his time on the phone with those who “have been devastated by UST depegging.” A significant number of investors lost money on Terra’s downfall, and while Kwon doesn’t detail his own losses, he revealed, “Neither I nor any institutions that I am affiliated with profited in any way from this incident. I sold no luna nor ust during the crisis.” UST is Not Decentralized Money, Founder Say...