Bitcoin’s price has recently been erratic, falling below $30,000 for the first time. The stable coin Terra USD (UST) and its companion cryptocurrency, LUNA, are two causes that have been mentioned.
Do Kwon Net Worth 2022
Both have lately collapsed, resulting in massive losses for investors. Do Kwon is predicted to have a net worth of $10 million as of 2022.
Do was born on September 6, 1991, in New York City. He is originally from South Korea, where he worked on several of his projects.
However, nothing is known about his childhood in his own nation. He eventually made the decision to come to Canada. Kwon ultimately sought higher education and relocated to Stanford, California, after residing there for a number of years.
In 2015, he graduated from Stanford University with a bachelor’s degree in computer science. He worked as an engineer for Microsoft and Apple for a short time after graduating from college.
|Date of birth||6 September 1991|
|Height||5 feet 10 inch|
|Net Worth||$10 million|
About His Cryptocurrency Career
Do Kwon find Anify, a peer-to-peer communications startup, in 2016? Until 2017, he was the company’s CEO, following that, he entered the cryptocurrency market.
In 2018, he co-founded Terraform Labs with Daniel Shin, a business professional.
The company’s goal is to develop a decentralized currency with predictable prices. Kwon and co-founder Daniel Shin used it to create the Terra Proof-of-Stake (PoS) and UST algorithmic stable currency.
The LUNA stable coin, which is used as a native currency on the Terra blockchain, is also produced by the company. It also oversaw the development of CHAI, a UST-based e-commerce platform.
The Situation With UST And LUNA:
True, UST and LUNA have had a significant influence on the cryptocurrency world. However, the two haven’t been performing their primary role as stablecoins in recent months, since their prices have plummeted.
The UST has recently de-pegged, which means it is no longer worth the same as the US dollar. It was as low as 40 cents at one point. Because LUNA is tied to UST, it too has experienced significant losses, falling to as low as 99 percent in only two weeks.
Many crypto investors are concerned about these price fluctuations since they have harmed Bitcoin and the overall market.
Many people have lost a significant portion of their life savings. The Terra blockchain is on the verge of collapsing, with multiple exchanges blocking the token.
Do Kwon’s Earnings & Net Worth
Do Kwon and his company were doing well before all of the difficulties. Terra received $32 million in funding from major crypto firms including Binance, Arrington XRP, and Polychain Capital.
As a result, the young digital entrepreneur was named to Forbes’ Asia’s 30 Under 30 list. Regrettably, the crypto environment he created is presently in need of assistance. Terra’s odds of survival, according to some analysts, are nearly none. Despite this, Do has a net worth of $10 million.
Kwon’s Personal Life & Experiences
Kwon is a man who keeps to himself. He isn’t particularly forthcoming regarding his personal life. He is, however, married and lives in Korea with his wife.
Do Kwon was born in Seoul, South Korea, on September 6, 1991. He earned his bachelor’s degree in computer science from Stanford University in 2015. Kwon worked as an engineer for Apple and Microsoft before creating Any.