Ever heard of a guy named Terra Do Kwon?

If the answer is no, you’re not alone. But that’s going to change because Do Kwon just made some headlines in the cryptocurrency world.

He’s a South Korean computer science student who graduated from Stanford University in June 2015 and then worked at Apple and Microsoft for three months each before returning home to start his own company.

Terraform Labs, a blockchain technology business founded by Do Kwon and Daniel Shin, was founded in 2018. The group’s main goal is to create a decentralized coin with stable pricing.

Terra Do Kwon Biography, Education & Early Life

Do Kwon
Born	Kwon Do-Hyung
Nationality	South Korean
Education	Daewon Foreign Language High School
Alma mater	Stanford University
Occupation	Cryptocurrency developer
Known for	Terra blockchain

Korean name
Hangul	권도형
Revised Romanization	Gwon Do-hyeong
McCune–Reischauer	Kwŏn Tohyŏng

Kwon Do-Hyung popularly known as Do Kwon is the CEO and co-founder of Singapore-based Terraform Labs, which developed a blockchain called Terra. One of Terra’s main features was TerraUSD (UST), which was supposed to maintain a 1:1 peg with the US dollar by using an algorithm called a “burn and mint equilibrium”.

This method used two tokens: one stable (UST) and one volatile (LUNA). The stable token would absorb volatility from the volatile one, thus maintaining its peg.

However, In May 2022, UST and LUNA both collapsed within a week, wiping out almost $45 billion of market capitalization. UST stablecoins were not backed by US dollars; instead, they were designed to maintain their peg through a complex model called a “burn and mint equilibrium”.

This method uses a two-token system whereby one token remains stable (UST) while the other token absorbs volatility (LUNA). Kwon’s company went bankrupt shortly after these revelations came out; investors lost billions of dollars due to his lies—and most importantly, people lost trust in cryptocurrency because they thought it was no longer safe after such events took place.

Terra Do Kwon was also the founder of another failed stablecoin project called Basis Cash, which got its inspiration from a different stablecoin project called Basis (formerly Basecoin), an Ethereum-based token.

Basis had raised a large sum of money from venture capitalists and was created by Nader Al-Naji. Al-Naji eventually shut Basis down over U.S. Securities and Exchange Commission (SEC) concerns and returned his investors’ money. However, Basis Cash was born, as an attempt to skirt around SEC regulators

Daewon Foreign Language High School graduate Kwon completed high school in Seoul, South Korea in 2010. He studied computer science at Stanford University, graduating in June 2015. After working as an engineer at Apple and Microsoft for three months each, he returned to South Korea to start a company called Terra in September 2015.

Former Terra employees have claimed that Kwon was also the founder of another failed stablecoin project called Basis Cash, which got its inspiration from a different stablecoin project called Basis (formerly Basecoin), an Ethereum-based token.

Terra Do Kwon Net Worth

Do Kwon is the co-founder and CEO of AD Terra. He is worth around $10 million as of 2022. In 2016, Kwon founded Anyfi, a telecommunications company. Anafi is a peer-to-peer communication system based on mesh networks. He was the company’s CEO from 2007 to 2017.

Terra Do Kwon raised $207 million for his Terraform Labs, which launched luna and UST, and his almost shameless level of online bravado, in which he shunned the “poor” (that is, luna skeptics) on Twitter, drew in the masses.