Summary:
Terra’s founder, Do Kwon, has clarified via Twitter that he did not sell any LUNA nor UST during the depegging crisis
and subsequent inflation suffered by LUNA. He also added that the institutions he is affiliated with did not in any way profit from the events of the last week.Do Kwon’s statements on him not selling LUNA nor UST were part of a six-part Twitter thread that began with him stating that he has been in constant communication with the Terra Community and that he was heartbroken about what transpired over the last few days. He said:
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.
Within the Twitter thread, Do Kwon stated that the team at Terra was currently documenting the use of the Luna Foundation Guard’s over 80k Bitcoin holdings during the depegging event. He also asked for patience on the matter as the Terra teams ‘are juggling multiple tasks at the same time.’
In the final sections of the six-part Twitter thread, Do Kwon shared a link with details of his proposed revival plan for the Terra ecosystem. He urged the community to ‘reconstitute the chain to preserve the community and the developer ecosystem.’
Do Kwon’s revival plan of the Terra Chain
also included the following:[Feature image courtesy of Bloomberg.com]