Do Kwon Net Worth 2023 | Terra Luna Founder

We are going to discuss Do kwon Net Worth and LUNA crash in detail. Do kwon is a south Korean cryptocurrency expert. He is the founder and CEO of terraform Labs, a South Korean company based in Singapore. He founded TERRA LUNA. He also founded well known stable coin Terra UST, which is meant to maintain a 1:1 peg with the U.S Dollar. UST pegging is used to maintain it to be a stable coin and to prevent market cap or price fluctuations.

Do Kwon Net Worth:

In 2023, Do kwon net worth is estimated to be between $135 – $150 million, this is the amount which is left in terra Luna foundation guard wallet after the Luna crash.

Within few days in the month of May 2022 , Do Kwon’s all wealth wiped out after the terra Luna crash. The crash has taken over $45 billion USD from Do kwon total worth, all his public investments are included in this $45 billion USD. All his money disappeared within few minutes.

Who is Do Kwon :

Do Kwon , a well known Cryptocurrency entrepreneur. He was born on 1 September 1991 in South Korea. He is the CEO and Founder of Terra Labs, a company that created UST stable coin and also founded the LUNA. Do kwon got his secondary education from Daewon Foreign Language High School, a private school in Seoul, South Korea. He then got his higher education from Stanford University, where he studied Computer Science. He also worked at the well known companies Microsoft and Apple just for three months in each company.

Terra Luna : Real reason behind Do Kwon Crash:

Luna, a native token of the terra labs blockchain system. Stable coins are made stable by pegging it with US dollar, which is itself a stable currency, because this currency is used all over the world for trades and also it is reserved in different banks. Also, U.S dollar is issued by United Stated so its value increases day by day and their is no chances of its downfall. Hence, it is main reason of being stable of Tether and other stable coins.

On the other side, Luna was pegged with Terra USD ( UST ) , another stable token made by terra labs. Its value is not tied to any actual currency such as dollar, instead, complex set of codes is used to determine its value which was equivalent to united states dollar. Hence , before the crash it was good stable coin.

Behind the Luna crash, the main reason was its de-pegging with Terra USD, which may be the technical error, but many people are saying that it was pre-planned crash by the company, as users were not being replied by the company and other users were also trolling the company on twitter. Also on the initial days , company was acting like as it does not exist on the world.

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Many well known and popular crypto exchange companies like Binance, WazirX, CoinDCX, Coinbase and other companies was offering help to terra labs after crash of the Luna in their critical time. These companies were to ready to provide technical help by stabilizing the value of Luna by re-pegging it with the token UST, but they did not accept their help.

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FAQ’s About Do Kwon:

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Conclusion :

In this article, we discussed about Do kwon Net worth and also discussed Luna’s crash. And on this my final words are that company has crashed it by themselves as they are not even doing anything to re-stabilize the coin.