This week, we dig into the rise of Do Kwon, the enormous appeal of his almost magical algorithmic stablecoin – and the far less charmed reality underlying his machinations from the very start.
On today’s show we’re taking a look at new revelations about the collapsed Terraform ecosystem, courtesy of CoinDesk Chief Insights Columnist David Z. Morris.
A complaint by the SEC against Do Kwon and Terraform Labs revealed an unnamed trading firm helped Kwon restore UST’s $1 peg in 2021 in exchange for discounted LUNA tokens.