Terra founder and CEO Do Kwon has refuted recent allegations that he disbursed $2.7 billion before the fiasco that led to the UST stablecoin losing its correlation and LUNA crashing to $0.
An anonymous Twitter account known as “FatManTerra” made a huge claim in the past days that the founder and CEO of Terra, spent $2.7 billion over the months leading up to the UST collapse in May.
FatMan alleged that Do Kwon used Degenbox, a borrowing protocol in the Abracadabra ecosystem, that allows users to obtain collateral to purchase UST, put it in Ancor, then use the (aUST) stack to borrow more UST, and put it in Anchor Again and so forth, in an endless loop.
Hours after the "FatMan" tweets, the Terra founder responded to refute the allegations and charges against him, calling them categorically false.
Some of his response came as follows:
This should be obvious, but the claim that I raised $2.7 billion is completely false.
He also said:
For the past two years, the only thing I've earned is a token cash stipend from the TFL Terra Foundation, and I've put off taking most of the team's cryptocurrency because:
a) I didn't need it
b) I didn't want to cause unnecessary finger pointing which I already have a lot of.
However, "FatMan" did not stop there.
After the Terra founder's response, he continued to insist and focus on the founder's mistakes, asking more unanswered questions.
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