Do Kwon, cofounder of Terraform Labs, discusses the charges against him, gives a message to Terra victims, answers allegations about potential fraud and non-transparent business practices, and much more. 

Show highlights:

  • whether Do finds the charges based on the Capital Markets Act legitimate 
  • why he doesn’t want to discuss his location
  • whether the South Korean government is lying about the accusations against him
  • what happened with the BTC held by the Luna Foundation Guard
  • whether Do regrets being so arrogant in his tweets
  • what he would say to the people who lost huge amounts of money in Terra or family members of people who committed suicide due to its collapse
  • the decision to set Anchor’s yield near 20% 
  • why Terra had a large SDT pre-mine that was not proactively disclosed
  • whether Do’s actions show he didn’t think that the algorithmic mechanism was sufficient to keep UST pegged to the dollar
  • whether Terraform Labs cashed out $2.7 billion using Degenbox
  • why there were no disclosures about Chai terminating its agreement with Terra
  • why the Terra blockchain went through a hard fork without a public discussion
  • the failure of the basis cash stablecoin, also worked on by Do Kwon
  • whether an algorithmic stablecoin can work
  • the week of the UST depeg and what happened to the funds held by LFG
  • where the 3 million Luna unlocked per month by Project Dawn went
  • when the LFG will return funds to UST holders
  • what Do would do differently if he had the chance to go back

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Do Kwon:

Previous Coverage of Unchained on Do Kwon and Terra:

Devastating Stories

SDT pre-mine

Anchor yield

  • JTBC article reporting core devs wanted a lower yield


Abracadabra Degenbox

Project Dawn

Basis Cash

Luna Foundation Guard

Allegations against Do Kwon

SEC Actions Against Terra

  • SEC Investigating UST Stablecoin Blowup in Fresh Threat to Terra
  • Terraform Labs Loses US Appeal over SEC Subpoena
 * Quick correction*

 At 7min 18sec, I misspoke, the Korean government posted a pdf for Do Kwon’s passport revocation, not his arrest warrant. 


Read the episode transcript here