Do Kwon: ‘I Am Heartbroken’ Over Pain Caused by UST Collapse
The admission comes after the stunning demise of the Terra blockchain’s flagship project.
Terra creator Do Kwon said in a tweet thread he was “heartbroken” about his creations losing functionally all of their value this week.
Kwon, who founded Terraform Labs – creator of the LUNA governance token, TerraUSD stablecoin and various other cryptocurrencies – said he spent the last several days calling various community members about the tokens’ losing all of their value. Luna, which was worth nearly $120 at the start of April, collapsed in dramatic fashion this week and traded around 0.03 cents as of press time.