The crypto market is full of ‘chest thumping’ founders who regularly resort to the ‘I told you so’ attitude. While there’s nothing wrong with the behavior, the majority of them have drawn a line to not ridicule critics in the face of scrutiny. They’ve either changed their tone or worked towards improving their respective ‘coins’ performance while being cornered. Nonetheless, neither of them happened with TerraUST founder Do Kwon.
The CEO of Terraform Labs repeatedly labeled his critics as “poor”. Laughed at their criticisms with a long-standing history of even calling economists “poor”. Kwon seems to have had a chip on his shoulder all along.
Frances Coppola, a British economist criticized Terra’s algorithmic stablecoin model back in July 2021. While one could expect Kwon to either correct her or educate her about the stablecoin, his reply was downright demeaning. Here’s what Do Kwon said to the economist’s criticism- “I don’t debate the poor on Twitter.”
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Coppola labeled Kwon as “arrogant” for his demeaning reply and asked him to “Go and learn some actual finance.”
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Kwon’s attitude shows he has no respect for the poor and thinks anyone who isn’t rich is brainless.
Below are the screenshots of Kwon calling everyone “poor” (just a handful, there’s more out there on the Internet).
This attitude can only take a person this far in life before he/she falls from grace.
Do Kwon, Failing Companies Are Not Entertainment
Just nine days before TerraUST fell 100%, Do Kwon predicted in an interview that 95% of all cryptos will die. He might have assumed Terra will not be on the list before making the statement. However, he went ahead to say that failing companies are “entertainment” with a big laugh. Even the host was seen to have been surprised by his answer.
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Dear Do Kwon, no, failing companies are not “entertainment” as it comes with the baggage of loss of livelihood. That’s the least entertainment anyone wants, as it’s distressing to see dreams shatter, jobs lost and investments gone.
TerraUST and LUNA investors have lost all their investments and the crypto community feels deeply for them. It’s the average Joe that lost his/her savings and hundreds of them are even contemplating suicide. Dear Do Kwon, do you feel deeply for them like we do? Oh, you might not because now that they are “poor”.