Do Kwon Accused of Cashing out $2.7B Before UST Collapse, Terra Founder Says Allegations Are False
Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations and he claims the allegations are “categorically false.” LUNA 2.0 Token Drops 54% in Value During the Last 2 Weeks The LUNA 2.0 rebirth token has been extremely lackluster in terms of market performance during the past two weeks. However, as Bitcoin.com News reported six days ago, a myriad of decentralized finance (defi) protocols have re-joined the ecosystem. Terra’s 2.0 chain has roughly $1.32 billion locked in the Stader defi application according to defillama.com stats. The Terra Classic chain still has $10.54 million total value locked in defi today as well, with $3.11 million held on Terraswap and $2.47 million locked into Anchor. During the past two