The unusual personality of the 9x CEO behind Luna

 Do Kwon, CEO of Terraform Labs, is disliked by many for his willingness to criticize anyone.

Kwon was born in 1992, grew up in Seoul, then went to the US to study computer science at Stanford University. In 2018, he co-founded Terraform Labs in Singapore with Daniel Shin.

The two launched the stablecoin (price-stable cryptocurrency) TerraUSD, or UST, in 2020. Unlike other stablecoins like Tether (USDT) or Binance USD (BUSD) that have collateral, UST is associated with a management token. value project Luna through algorithm. To buy UST, users need Luna and vice versa.

However, this is also the drawback of the model. When Luna was sold off, the UST's one-dollar anchor value was gone.

Despite being judged as unsustainable, investors are still caught up in Luna's vortex. Many are said to have been "fascinated by Kwon's genius".

“Terra has attracted many well-known investors thanks to Kwon’s convincing ability in DeFi decentralized finance philosophy and tokens in the field,” said a former Terraform Labs employee. "They found the algorithmic model new and attractive. In fact, stablecoins are not linked to the real economy in any way, just backed by and with Bitcoin, so many people think their way Kwon will be the future of digital currency."
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