The net worth of Terra founder Do Kwon after the monumental crash of Terra is estimated at $135 million. This article will focus on, "What was Do Kwon's Net Worth Before The Crash Of The Terra Ecosystem?" Let's get started.
Who is Do Kwon?
Kwon Do-Hyung, 31, hails from Seoul, South Korea. After founding the now-collapsed Terra cryptocurrency in 2018, Do Kwon quickly became of the most well-known figures in the cryptocurrency industry. Ushering the era of a decentralized dollar-pegged stablecoin UST in 2020, Do Kwon earned a remarkable foothold in the blockchain space in no time.
He graduated as a Computer Scientist from Stanford College in 2015 and later worked as an engineer with Apple and Microsoft. With considerable tech experience under his belt, he pivoted to crypto, where he quickly earned his reputation for being a controversial and vocal figure.
The first tech project built by Do Kwon was an e-commerce site that focused on connecting overseas shoppers with Korean suppliers. The project was launched while Do Kwon was in his early twenties. Its meteoric rise earned him a spot on the elite list of Forbes ' 30 under 30 in 2019.
What was Do Kwon's Net Worth Before The Crash Of The Terra Ecosystem?
Throughout 2019 and 2020, the cryptocurrency market had a striking upward trend, with the total value of all digital assets surging beyond $3 trillion.
According to reports, Luna Foundation Guard (LFG), a nonprofit organization established to preserve the UST peg's stability and promote the expansion of the Terra ecosystem, had amassed more than 80,000 BTC, or 0.4% of the total Bitcoin supply, prior to Terra's demise. This made LFG one of the largest Bitcoin holders.
It might be argued that Do Kwon had this wallet all along as he is currently thought to be in possession of LFG's wallet. That would put Do Kwon's net worth before the Terra crash at about $3 billion if we take the average price of Bitcoin during early 2022 into account. And that's not accounting for other holdings and investments.
Furthermore, reports also revealed accusations of Terraform Labs' co-founder having shadow wallets that carried over $200 million worth of LUNA tokens. However, facts about the shadow wallets have not yet been confirmed.
It is worth noting that Do Kwon himself commented on his fortune in early 2022, saying that he was a billionaire when the LUNA token was trading near $100.
What was Do Kwon's Net Worth Before The Crash Of The Terra Ecosystem? - Hopefully, this article can help you to get some knowledge.
