Terra's $40 bln crash wipes out co-founder Do Kwon's empire, but he's optimistic on 2.0
After successful voting, Kwon was able to launch Terra 2.0 on May 27, where the original Terra chain has been rebranded as Terra Classic, while a new chain has been created with the existing name Terra and made available for trading.
The world turned upside down for Terraform Labs co-founder Do Kwon when his cryptocurrency empire that held so-called TerraUSD and Luna collapsed wiping out $40 billion investors wealth. Now, Do Kwon faces ample of lawsuits for money laundering while he tries to get back on track with the launch of a new version of Terra. The South Korean entrepreneur hasn't given up yet and is optimistic about his company's ability going forward.
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