Terraform Labs co-founder Do Kwon in an interview with Unchained answered if pre-depeg UST holders will get their a refund or if it was a rug pull. Terra founder earlier in Might tweeted compensating pre-depeg UST (now USTC) holders with USDT or USDC, Luna Basis Guard (LFG) additionally with the same plan to compensate customers for his or her loss.
Do Kwon Declines Compensation to UST Hodlers At This Time
Laura Shin, host of the crypto podcast Unchained, in an interview with Terra founder Do Kwon requested if UST holders will probably be compensated as acknowledged earlier by him and LFG.
Whereas utterly avoiding his tweet through which he promised to compensate pre-depeg UST holders with USDT and USDC, Do Kwon answered why LFG will not be ready to compensate customers.
“Basis guard will not be at a state the place it may well clarify disposal of its belongings. There may be pending civil litigation towards LFG. So till these are resolved, we simply usually are not capable of distribute tokens.”
Moreover, he believes there may be not sufficient readability over how lengthy the method would take however hopes to finish it quickly. He asserts the concept is sort of a “Goodwill effort” to distribute 313 Bitcoin in USDT and USDC to holders. Nonetheless, it’s “positively not a refund.”
Additionally, Do Kwon denied having any private funds for compensation to the UST holders, regardless of regretting the $60 billion loss by traders within the Terra-LUNA crypto disaster.
Whereas Do Kwon’s South Korean passport will change into invalid this week, he isn’t pondering of returning to South Korea or cooperating with prosecutors. Do Kwon stated he hasn’t seen his arrest warrant or identify on Interpol’s Pink Discover. Furthermore, he refrained to speak about his whereabouts through the interview.
Do Kwon Denies Engaged on Terra Basic (LUNC)
Terra founder Do Kwon denied that he’s engaged on Terra Basic (LUNC). Nonetheless, Terra Station nonetheless helps LUNC and Terra will not be seeking to work on it anymore. Terra Rebels within the Terra Classic Revival Roadmap revealed their goal to change into unbiased of Terra and Do Kwon.
Terra Basic (LUNC) value is buying and selling at $0.00026, up practically 1%. In the meantime, Terra’s (LUNA) value fell nearly 2% within the final 24 hours.
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