Terraform Labs founder and CEO of LUNA Foundation, Do Kwon, made important statements about the recent events. Denying the allegations made against him, Kwon said that he made no sales and made no profit during the price crash.
Kwon, tweeting from his personal Twitter account, stated that the foundation also documents the transactions made during the period when the UST lost its balance against the dollar, and that they will show that there was no sale, and used the following statements:
‘My heart is broken’
“I spent the last days talking on the phone constantly with the Terra community members, which are project developers, software developers, employees, friends and family. I am heartbroken and saddened by the pain that the project I created has brought you.
‘UST won’t be that money’
I still believe that decentralized economies deserve decentralized money. However, it is clear and clear that UST will not be that money as it stands.
‘We didn’t sell’
Neither I nor the institutions I am affiliated with made sales during this crisis. We did not profit in any way from this. I have sold neither LUNA nor UST. We are working on the foundation’s use of Bitcoin reserves in the period when the dollar balance deteriorated. We are working on documenting these. I request some patience from you as teams are currently working on many issues.
There are many proposals on Agora to take the community forward. I’ve read most of them and I’ve written down some of my ideas. What we need to protect right now is the community and software developers who make the Terra block space valuable. I am confident the community will reach consensus to find the right path.”
As it is known, Kwon made a new proposal yesterday and offered to relaunch the network and distribute 1 billion new tokens to users and investors affected by the event.
545% rise in LUNA in 24 hours
On the other hand, many investors who want to take advantage of the price collapse in LUNA continue to buy and sell. In LUNA, which experienced a very serious price drop and fell 100 times below 10 cents, the great rise especially after the Binance exchange opened transactions in BUSD parity draws attention. LUNA is trading at 0.00019 at the time the news is written and it is one of the most “winners” of the day with a rise of 545%…
UST, which should normally be equal to $1, is currently trading at $0.15.
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