Do Kwon Net Worth is estimated to be around $10 Million. Do Kwon is a cryptocurrency investor and founder of Terra LUNA. He has around 17 years of experience in cryptocurrency and technical world and became one of the leading crypto personality since 2021. But with the collapse of LUNA and sister cryptocurrency TerraUSD, his reputation has been on downfall and investors has faced over $45 Billion in losses.
Who is Do Kwon?
Kwon Do-Hyung aka Do Kwon was born on 6 September, 1991 in Seoul, South Korea. At the age of 22, he founded his first startup, an e-commerce site focusing on connecting foreign shoppers with Korean suppliers. It was a successful startup and build him an entrepreneur that helped him to found other business opportunities throughout his career. He began much of his projects in Korea itself.
Later on he immigrated to Canada to pursue his further education from Stanford University and stayed here for few years. Kwon received degree in Computer Science and initially worked for Microsoft and Apple but returned home in South Korea after a year.
Do Kwon Career
In January 2016, Do Kwon established a peer-to-peer communication company named Anyfi, Inc. Kwon worked for this company till October 2017 and in January 2018 he co-founded the digital currency company — Terraform Labs with Business executive Daniel Shin. The technology was to use blockchain for efficient payment transactions. The goal of the company was to create a stable crypto coin that would maintain its value. Kwon created UST and Terra Proof-of-Stake (POS) with his executive partner. Terra has raised $32 Million from crypto giants such as Arrington XRP and Binance. Kwon also has lately been revealed as one of the anonymous co-founders of Basis Cash which was earlier modeled on Basis, Basecoin which has now become a stablecoin.
Do Kwon Net Worth 2023
Before the collapse of LUNA, Do Kwon businesses were flourishing and Do Kwon Net Worth was a multi-Billionaire when LUNA was trading at $100. As of 2023, Do Kwon Net Worth is estimated to be about $10 Million. Also the huge investment of $32 Million and his company Anify has made established him as a successful entrepreneur. In 2017, he was listed under the Forbes’30 Under 30 list in Asia. But the crypto system he built failed and he even could have legal formalities. Do Kwon wanted to re-launch the system but now it seems to be very difficult considering the market competition and his previously failed projects.
UST and LUNA’s Status
UST and LUNA gained massive recognition in crypto space initially as they were backed by huge investments from the major investors like Binance. Also, the huge investment showed the faith in technology and acceptance in the coming time. Investors thought that this could be one of the great investment that could give them impressive returns. In May 2022, this expectations fell apart. UST depegged and its value felt hugely and was now valued at just 3 cents. As LUNA is directly connected with UST, LUNA value also degraded by 99%.
This was the nightmare for the investors who had invested all their life saving and was expecting them to perform. This gave massive opportunities to Bitcoin and Ethereum. The value increased and was now getting widely acceptable. Now Terra blockchain has disappeared and crypto giants are no longer interested in such transactions.
Do Kwon Personal Life
Do Kwon is active on instagram with the username do_kwon__ where he regularly posts about his professional expectation from LUNA. On 22nd December 2022, he posted a data graph representing the Luna price drops and APR comparison. Do Kwon is married and has a baby. On 17 April 2022, he posted a pic of baby with the caption “Baby Luna”. Do Kwon has named his child “LUNA” and calls “his greatest creation after greatest invention”. Investors still pokes him and urges him to care about the investors and that he is not a good CEO because a lot of investors have suffered a lot due to the LUNA and UST.
Do Kwon Current Life
The current location of Do Kwon is not known. He is facing multiple legal allegations from investors and South Korean government is looking for him. More than 250,000 Koreans are impacted by the Terra LUNA crash. Their is an speculations that he might be in Singapore or Dubai. In September, South Korean government issued an arrest warrant against Do Kwon, after he was accused of fraud by investors in the wake of collapse of his company. Kwon has been charged by with fraud and breaches of South Korean’s capital market law. Kwon said in October that he didn’t believed that the charges was legitimate, and they were politically motivated. On 13 December 2022, South Korean prosecutors claimed that Do Kwon might be hiding in Serbia.
Final Thoughts on Do Kwon
After the fall of LUNA, Do Kwon visited an interview where he accepted ” I am alone responsible for the crash. I have never thought that this could happen to me if this fails. This does not matter me because I have a fairly frugal life. ” This statement made me think that Do Kwon could be a better CEO and a person. As so many people have belied and invested in the dream and technology of Do Kwon, he should be more polite towards all the people who are associated with him. The hope that it could work someday or constant efforts justifying the future would be more helpful for the people as many people have lost huge proportions of their life savings. Confessing things with people and apologizing for the loss would be a better option if Do Kwon thinks to re-enter into the crypto space.
The fact that Do Kwon passed out from Standard University implies that he might have intellect mind but Do Kwon should work had on personality and should learn from all the fellow crypto giants who are working in the same scenarios from years.
FAQs
How much money Do Kwon have?
Do Know Net Worth in 2023 is expected to be around $10 Million. This is due to the crash of TerraUSD and LUNA in May, 2022.
Where is Do Kwon now?
On 13 December 2022, South Korean prosecutors claimed that Do Kwon might be hiding in Serbia.
What is Do Kwon age?
Do Kwon is 31 years old. Do Kwon was born on 6 September, 1991.
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