Do Kwon, the CEO of Terraform Labs, took to Twitter to express his thoughts on the crypto market crash. Notably, on June 18, Bitcoin plummeted below the critical $20,000 support level, marking the lowest price for the flagship digital currency since December 2020. He was discussing the market fall, which he believes the Luna Foundation may have contributed to unwittingly when it traded Bitcoin in May to help fund TerraUSD. Kwon stated: “Be the change you want to see. The last month for crypto has lessons that will power the rise of the next-gen of builders to great heights.” Furthermore, Kwon emphasized the advantages of decentralized finance (DeFi), stating that DeFi supporters must embrace volatility as a cost of gaining control over their life and that the crypto market’s liquidations should not nullify these convictions: “Decentralized finance and decentralized monies protest against state-sponsored violence vs financial sovereignty. Volatility is a price believers pay to achieve that sovereignty. Liquidations should not invalidate those beliefs.” Decentralized finance and decentralized monies protest against state sponsored violence vs financial sovereignty Volatility is a price believers believers pay to achieve that sovereignty Liquidations should not invalidate those beliefs — Do Kwon 🌕 (@stablekwon) June 18, 2022 “Create systems that are stronger and more resilient to those attacks. Rise to the challenge or capitulat...
