Do Kwon: the King of Crypto Lunatics

Cryptocurrency entrepreneur Do Kwon liked to ruffle feathers and stir things up in his industry. But the collapse of his empire has left investors desperate and angry.

Do Kwon, co-founder and chief executive officer of Terraform Labs
Kwon: relished "stirring up trouble”
(Image credit: © Woohae Cho/Bloomberg via Getty Images)

“Right now, my role in the crypto industry is a little polarising,” observed Korean entrepreneur Do Kwon in April. “Because, you know, we’ve been making a lot of big moves. And that ruffles some feathers.”

Back then the so-called “King of Lunatics” was riding high, thanks to the soaring value of two cryptocurrencies: Luna and its sister “stablecoin”, TerraUSD. Kwon’s vision was to create a stable digital “ecosystem” free from “the tentacles of Wall Street and government regulators”, says Bloomberg.

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Jane writes profiles for MoneyWeek and is city editor of The Week. A former British Society of Magazine Editors editor of the year, she cut her teeth in journalism editing The Daily Telegraph’s Letters page and writing gossip for the London Evening Standard – while contributing to a kaleidoscopic range of business magazines including Personnel Today, Edge, Microscope, Computing, PC Business World, and Business & Finance.

She has edited corporate publications for accountants BDO, business psychologists YSC Consulting, and the law firm Stephenson Harwood – also enjoying a stint as a researcher for the due diligence department of a global risk advisory firm.

Her sole book to date, Stay or Go? (2016), rehearsed the arguments on both sides of the EU referendum.

She lives in north London, has a degree in modern history from Trinity College, Oxford, and is currently learning to play the drums.