E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Wealth Guide: Real Estate – 5-point guide by expert for buying right home for your family

July 5, 2022

The Warm Glow Of A Luminous Clock

July 5, 2022

UP TGT, PGT Recruitment 2022: Last date of application for 4163 posts extended, check official notification and full details here

July 5, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Do Kwon Refutes Claims of Cashing Out $2.7 Billion Before the LUNA-UST Fiasco
Crypto

Do Kwon Refutes Claims of Cashing Out $2.7 Billion Before the LUNA-UST Fiasco

Paul EasterBy Paul EasterJune 12, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email



The founder and CEO of Terra, Do Kwon, has refuted recent claims that he has cashed out a whopping $2.7 billion before the fiasco that led to UST losing peg and LUNA crashing to $0.

  • Well-known anonymous Twitter account FatManTerra made another massive allegation yesterday, arguing that Do Kwon, the founder, and CEO of Terra, cashed out a whopping $2.7 billion over the span of months prior to UST’s depeg in May.
  • FatMan alleges that Do Kwon had used Degenbox – a borrowing protocol in the Abracadabra ecosystem, allowing users to stake collateral to buy UST, put it into Ancor, then used the staked UST (aUST) to borrow more UST, put it into Anchor once again, and so forth – a loop.
  • Hours later, Do Kwon took it to Twitter to completely refute the claims, slamming them as “categorically false.”

This should be obvious, but the claim that I cashed out $2.7B from anything is categorically false. – He said.

  • He also said that “for the last two years, the only thing I’ve earned is a nominal cash salary from TFL, and deferred taking most of my founder’s tokens because a) didn’t need it and b) didn’t want to cause unnecessary finger-pointing of “he has too much.”
  • FatMan didn’t stop there, though. Following Kwon’s response, the account continued insisting on the founder’s wrongdoings, asking further questions that are yet to be answered.

Caught. The ‘mystery’ wallet with a 20M LUNA airdrop that was voting on Do’s own proposal, delegating to North Star, insider trading ASTRO, etc. – it is officially confirmed that it belongs to Do Kwon himself. (1/3) pic.twitter.com/QqfBnk6Oxe

— FatMan (@FatManTerra) June 12, 2022

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.





Source link

Paul Easter

Related Posts

FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro

By Paul EasterJuly 5, 2022

the Revolution Behind Asset Tokenization

By Paul EasterJuly 5, 2022

BTC Testing $20K But is Another Pullback Coming?

By Paul EasterJuly 5, 2022

CoinLoan Reduces Withdrawal Limits but Claims No Exposure to Luna, Celsius, 3AC

By Paul EasterJuly 5, 2022
Add A Comment

Comments are closed.

Our Picks

Wealth Guide: Real Estate – 5-point guide by expert for buying right home for your family

By Paul EasterJuly 5, 2022

The Warm Glow Of A Luminous Clock

By Paul EasterJuly 5, 2022

UP TGT, PGT Recruitment 2022: Last date of application for 4163 posts extended, check official notification and full details here

By Paul EasterJuly 5, 2022
Recent Posts
  • Wealth Guide: Real Estate – 5-point guide by expert for buying right home for your family July 5, 2022
  • The Warm Glow Of A Luminous Clock July 5, 2022
  • UP TGT, PGT Recruitment 2022: Last date of application for 4163 posts extended, check official notification and full details here July 5, 2022
  • Good news for Textile importers! Government extends exemption of import duty and agri cess till 31 October July 5, 2022
  • Videsh Mey Nivesh Ke Pathshala: Want to invest in foreign markets? Anil Singhvi explains how to do it July 5, 2022
  • FinTech Acquisition Corp Mutually Terminates Merger Agreement With eToro July 5, 2022
  • Arbitrations – Worth the Supposed Savings? July 5, 2022
Archives
  • July 2022
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.