Algorithmic stablecoin TerraUSD was supposed to maintain its value at $1 with the help of its sister-crypto, Luna. But TerraUSD’s price collapsed to pennies in May, while Luna plunged by more than 99%, wiping out around $40 billion in value. Their creator Do Kwon has been attempting a comeback by relaunching Luna.
WSJ markets reporter Alexander Osipovich joins host Julie Chang to explain the collapse of Do Kwon’s crypto empire and what his second try looks like.
Photo: Woohae Cho/Bloomberg News
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25 Comments
Do Kwon is a South Korean crypto scammer more like it.
Not sure how Do Kwon can make a comeback since he owes 20 million dollars to a Twitter user.
Crypto, the new word for ponzi.
Billionaire scammers starting younger & younger lol
That’s totally fine, as long as it’s from jail.
Fool me once shame on you, fool me twice….
<I respect your work mate. TA Is all well and good but I find it truly baffling that all major crypto youtubers just look at pure TA and completely Ignore the bigger narrative of why BTC is dumping and why the future outlook might not be as rosy as It seems. It's kinda irresponsible to Ignore the fact that each ETF launch so far has caused a major dump at the peaks of BTC.. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market.This Is the worst possible time in history to invest as so many don't back up their crypto assets…more emphasis should be put into day tradiing as it Is less affected by the unpredictable nature of the Market..I have made over 11btc from day tradng with Gary Nelson , insights and signals In less than 3 weeks, this is one of the Best medium to backup your assets incase it goes bearish..
< What is the best way to make money from Crypto currency trading?
This guy should be in jail period
🤣😂🤣😂🤣😂 imagine losing 100% because it wasn't a meme coin 🤣😂🤣😂
The over-exaggeration of schumpeterian economics has set the stage for a new breed of scammers. Making a quick easy buck is too short-sighted: only the belief in a future completely beyond the horizon of probabilities pays-off when a bet is done by idiots who do it so they can believe themselves to be visionaries…
fake news guys be careful.play game in crypto
Do Kwon is a serial corporate scammer and belongs in prison
I heard Do Kwon walked away with $2.9billion USD.
Imposible luna can ATH again, if you want investing you can in market paper
Do Kwon is palpatine's puppil
Korean authorities need to make a example of him or we will lose faith for justice and people will judge all Koreans
I am not in on Terra again. I am even keeping my distance from all the other subsidiary projects under the Terra Ecosystem.
It is not because I've lost the money on Luna but b'coz I've lost the Trust that I had.
I wanna make a comeback too
Buy my Crypto – BS Coin!
Thats what happens when you create something out of nothing
Why don't they tell that Do Quan sold his holdings 3 DAYS BEFORE the collapse. Certainly looked fraudulent to me.
Keep playing stupid games and win stupid prizes 😂😂
I’m waiting for luna 3.0
Somewhere in the comments, someone is arguing that luna will make a comeback.
You mean a SCAMBACK 🙃