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Mr. Kwon’s company, Terraform Labs, raised more than $200 million from investment firms such as Lightspeed Venture Partners and Galaxy Digital to fund crypto projects built with the currency, even as critics questioned its technological underpinnings. Luna’s total value ballooned to more than $40 billion, creating a frenzy of excitement that swept up day traders and start-up founders, as well as wealthy investors.
Mr. Kwon dismissed concerns with a taunt: “I don’t debate the poor.”
In April, Luna’s price rose to a peak of $116 from less than $1 in early 2021, minting a generationof crypto millionaires. A community of retail traders formed around the coin, hailing Mr. Kwon as a cult hero. Mike Novogratz, chief executive of Galaxy Digital, which invested in Terraform Labs, announced his support by getting a Luna-themed tattoo.
Mr. Kwon, who operates out of South Korea and Singapore, gloated on social media. In April, he announced that he had named his newborn daughter Luna, tweeting, “My dearest creation named after my greatest invention.”
what is it with people who are heavily involved in crypto always being objectively dreadful people ?
Mr. Kwon dismissed concerns with a taunt: “I don’t debate the poor.”
In April, Luna’s price rose to a peak of $116 from less than $1 in early 2021, minting a generationof crypto millionaires. A community of retail traders formed around the coin, hailing Mr. Kwon as a cult hero. Mike Novogratz, chief executive of Galaxy Digital, which invested in Terraform Labs, announced his support by getting a Luna-themed tattoo.
Mr. Kwon, who operates out of South Korea and Singapore, gloated on social media. In April, he announced that he had named his newborn daughter Luna, tweeting, “My dearest creation named after my greatest invention.”
what is it with people who are heavily involved in crypto always being objectively dreadful people ?
