Do Kwon, the Co-founder of TerraForm Labs (TFL) has repeatedly been on several crypto news for the wrong reasons, in the past couple of weeks. Following the collapse of Terra LUNA (now LUNC), which appeared to be beyond restoration, Do Kwon rolled out a supposed revival plan, named Terra 2.0.
Sadly, Terra 2.0 turned out somewhat dead on arrival, as it has not helped wrecked investors recover their massive losses. Regardless, he has recently expressed confidence in rebuilding a better and stronger Terra blockchain.
Terra Blockchain Comeback: Terra 2.0
May 2022 was indeed a terrible month for the Terra ecosystem, as both of the blockchain’s native digital assets UST and LUNA (now renamed LUNC) sagged. On the whole, the Do Kwon crypto empire suffered a $40 billion crash.
In consequence, investors and holders of these assets were left to wallow in losses following the unfortunate depegging of the supposed stablecoin, TerraUSD (UST).
After being slammed by affected angry investors...
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