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Do Kwon Says He’s No Fraudster and Has ‘Great Confidence’ in Terra 2.0

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Do Kwon, the co-founder of Terraform Labs has spoken out about the Terra 2.0 network, which was launched in the wake of last month’s devastating luna classic (LUNAC) and terraUSD (UST) crash.Speaking to the Wall Street Journal, Kown said he had “great confidence” in his team’s “ability to build back even stronger than we once were.” He said that “many builders” were currently “in the process of relaunching their apps on the new chain.”Kwon told the media outlet that he had personally lost money in the crash, but refuted claims that Terra was a “fraud.” He was quoted as explaining:“I made confident bets and made confident statements on behalf of UST because I believed in its resilience and its value proposition.

I’ve since lost these bets, but my actions 100% match my words. There is a difference between failing and running a fraud.”Kwon added that he had “never really counted” his LUNAC fortune, even when the coin was at its peak value of around USD 116.

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