The CEO and co-founder of the infamous Terra and TerraUSD ecosystems, Do Kwon disproved the claims of cashing out $80 million every month for the past three years.
Unconfirmed reports appeared, claiming Do Kwon’s involvement in draining liquidity out of Luna Classic and TerraUSD Classic before the crash to purchase United States dollar-pegged stablecoin such as Tether.
Rumours about Kwon cashing out LUNA and UST reserves surfaced after a Twitter thread shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity.
However, the entrepreneur advised the crypto community to steer away from fuelling the rumour until it was proven true.
Sharing his side of the story, Kwon stated that the recent rumours of cashing out $80 million per month disputes the claims that he still holds most of his LUNA holdings, acquired during the airdrop. Kwon further reiterated that his income over the past two years has only been a cash salary from TerraForm Labs. Kwon told the community that “spreading falsehood” adds to the pain of all LUNA investors
