Terra's $40 bln crash wipes out co-founder Do Kwon's empire, but he's optimistic on 2.07 min read . Updated: 23 Jun 2022, 08:40 PM IST
- 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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