The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $16,637.28 and BTC market dominance is %. The price of Ethereum is $1,201.88 and ETH market dominance is %. The best performing cryptoasset sector is Jobs, which gained 12%.
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Do Kwon appeared on UpOnlyTV as FTT tanks to $9 in Terra Luna esq death spiral.
Cover art/illustration via CryptoSlate
Terra Luna founder Do Kwon has joined the UpOnlyTV show on Twitch amid carnage in the crypto markets as FTT tanks to $9, and Binance announces a potential acquisition of FTX.
About the crisis management currently being performed by Sam Bankman-Fried of FTX, Do Kwon commented that “doing effective crisis management is not easy.”
Hosts of the show conversed over the various crypto projects that collapsed during 2022. Cobie then mentioned Terra Luna, to which Do Kwon smiled and laughed.
Do Kwon was asked if he had any advice for SBF during the crisis. He replied,
“I don’t think I did it particularly well… “I don’t think I’m the best person for advice.”
Regarding the continued issues with FTX, Do Kwon stated, “If CZ steps in and makes users whole, there’s no reason he’d be in any meaningful distress.”
The Terra Luna founder was then asked if he would invest in an SBF startup. Do Kwon replied, “I think it’s too early to tell… it takes a while to get to the truth.”
Do Kwon was asked if he believed that his persona and “bravado” contributed to the downfall of Terra Luna. In response, Do Kwon argued that “a lot of people think that Terra was started in 2021,” but he started working on it in 2017.
He doesn’t think what happened to UST would have been any different had he acted differently on Twitter. Do Kwon commented that how he acts on Twitter is “pretty different” from how he is in real life. He continued, “I started to shitpost when it became popular,” but he did so before becoming a popular figure in the space. He commented that it “was fun” and did not affect Terra Luna’s collapse.
When asked how his family had dealt with the collapse of Terra, Do Kwon admitted that his family has been “extremely supportive” but is not dealing well with the Terra Luna collapse.
FTX’s native token FTT hit $9, and one host exclaimed, “it would be amazing if it went to zero while Do is on the stream.”
The UpOnlyTv show is currently still live on Twitch.
Also known as Akiba, Liam is a journalist and editor of Blocklight at CryptoSlate. He believes that decentralized ledger technology has the potential to make widespread positive change. He predicts the next 10 years will bring in a dawn of a new age of technological innovation.
Directly from this Widget: the top CEXs + DEXs aggregated through Orion. No account, global access.
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Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Learn more
Do Kwon is the co-founder and CEO of Terraform Labs. Learn More
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