Remember Do Kwon? The architect behind Terra Luna, the crypto ecosystem that soared to a stunning $60 billion valuation at its zenith in 2021-2022.
Back then, he was everywhere—confident, vocal, seemingly unstoppable. The narrative was simple: his stablecoin was bulletproof, the critics were noise, and anyone questioning the model was just missing the vision.
He didn't just believe in it. He defended it aggressively, mocking skeptics who dared to voice concerns about the mechanics. The arrogance was palpable—a founder convinced his innovation had solved what others couldn't.
Then it collapsed. Spectacularly.
What started as a $60 billion fortress crumbled, and with it came hard lessons about overconfidence in crypto ecosystems, the fragility of algorithmic stablecoins, and why humility matters more than hype. The Terra Luna saga remains a defining moment: a reminder that scale and conviction don't guarantee sustainability.
Remember Do Kwon? The architect behind Terra Luna, the crypto ecosystem that soared to a stunning $60 billion valuation at its zenith in 2021-2022.
Back then, he was everywhere—confident, vocal, seemingly unstoppable. The narrative was simple: his stablecoin was bulletproof, the critics were noise, and anyone questioning the model was just missing the vision.
He didn't just believe in it. He defended it aggressively, mocking skeptics who dared to voice concerns about the mechanics. The arrogance was palpable—a founder convinced his innovation had solved what others couldn't.
Then it collapsed. Spectacularly.
What started as a $60 billion fortress crumbled, and with it came hard lessons about overconfidence in crypto ecosystems, the fragility of algorithmic stablecoins, and why humility matters more than hype. The Terra Luna saga remains a defining moment: a reminder that scale and conviction don't guarantee sustainability.