- Do Kwon urges Genesis and SBF to come clean about their doings.
- Kwon’s tweet thread follows after the news of an investigation on FTX on its alleged involvement in the fall of Terra surfaced.
- The former Terra CEO asserted that what is done in darkness will come to light.
Do Kwon, the co-founder of Terraform Labs, asks Genesis and FTX to come clean about their doings in his recent tweet thread. The tweet began with Kwon sharing a New York Times report in which Sam Bankman-Fried is reportedly facing a market manipulation investigation by federal prosecutors for his alleged role in the Terra ecosystem’s demise.
Kwon urged Genesis to come clean and provide details as to whether they provided the $1 billion UST shortly before the crash of SBF or Alameda.
The purchase from LFG was represented as stemming from “interest to participate in the Terra Defi ecosystem” – not to provide ammo for a peg attack.
The Terraform Labs co-founder also questioned why Alameda borrowed nine figures in bitcoin from Voyager and asked other large firms to borrow more on depeg dates. Kwon also emphasized the importance of making this information public.
The large currency contraction in February 2021 was started by Alameda, according to Kwon. He tweeted that it began when they sold 500 million UST in minutes to drain its curve pools amidst the Magic Internet Money (MIM) crisis. Kwon questioned whether SBF borrowed the funds to short BTC to handicap Luna Foundation Guard reserves.
Kwon asserted that what is done in darkness will come to light. However, the investigation is still ongoing, and all these are allegations until proven otherwise. In the worst-case scenario, if these allegations are proven to be true, Sam Bankman-Fried will invite a bucketload of trouble and lawsuits.