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Crypto collapse turns South Korea against the ‘lunatic’ leader

The offer of 20 per cent yield on terra/luna catapulted Do Kwon to cult leader status with a fan following of ‘lunatics’ until it all came crashing down.

Christian Davies and Song Jung-a

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After Do Kwon indicated he would inject $US300 million into the reserves that underpinned the 20 per cent yield on his luna cryptocurrency, a Twitter user asked him where the money would come from.

Kwon’s response was succinct: “Your mom, obviously.”

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    Original URL: https://www.afr.com/markets/currencies/crypto-collapse-turns-south-korea-against-the-lunatic-leader-20220525-p5aofv