What’s Next for Do Kwon?<a href="https://www.youtube.com/watch?v=zdB2CW0S_TY" target="_blank" rel="noopener">Source</a>

Joining us now to debate this extra Is coindeski columnist and host Of The Narrative crypto Crooks David Z Morris David on a regular basis good to see You how's it going hiya it's going Good uh this was a very fascinating Morning clearly uh you you talked about Our podcast crypto Crooks uh we've spent The ultimate two months Um looking at dokwon we merely Of course we merely revealed our ultimate Episode uh two days previously uh so we're Gonna must perform a little little bit of an substitute nevertheless Uh yeah I'm following this story for a Long time Um and this seems like we're getting Closer to a conclusion although there Are nonetheless quite a few mysteries available on the market So David please inform me proper right here inform me and Listeners what exactly did dope Right And they don't work out What occurred proper right here it wasn't merely Luna Going to zero correct No and um you notice there have been totally different Algorithmic safe money correctly I'll once Up just a bit bit uh doe did two points One was foolish nevertheless not jail the Other was foolish and jail Um the issue that he did that was foolish But not jail was attempting to assemble an Algorithmic safe which is a Fundamentally fully and Irredeemably flawed thought that may under no circumstances

Work uh and it is hilarious to me and I Will under no circumstances stop making pleasing of all of the Venture capitalists and hedge funds who Got suckered by this very publicly Flawed thought you is likely to be dumb get out of the Business you don't how any of this Um nonetheless dokon on the same time was Doing points that had been foolish and Criminal these included faking Transactions on the to make It seem like this issue known as chai was Actually using uh the charge rails of Uh of the Luna Network to settle cash Payments in Korea or sorry digital Payments in Korea so that was out correct Fraud that information was included in SEC charging paperwork from ultimate month Um and we moreover uh now know that do Quan Has stolen money from the reserve and Perhaps in all probability probably the most tantalizing piece of Criminal train uh which moreover Implicates totally different entities along with Allegedly a us-based entity Um was that in Feb uh May of Tara USD the algorithmic safe coin had Experienced a deep pegging event that Should have and would have despatched it to Zero a 12 months sooner than It ultimately crashed Except that dokwan was secretly Negotiating with a hedge fund based in The U.S to bail it out to buy a bunch of Tara USD to push it once more as a lot as a buck Um that's moreover fraud because of after that

He and others would proceed claiming That Luna's mechanism made itself Balancing uh so that's all you notice we We don't have jail charges throughout the U.S however nevertheless this positively seems to be like like Criminal fraud everyone knows that the FBI and Doj are and there are Charges in South Korea we're in all probability not Privy to the small print of those charges Um nevertheless uh nevertheless he is sought in South Korea and uh it seems he's been hit with Some minor jail charges in Montenegro nevertheless he'll possibly wind up Uh extradited to South Korea the place he Will see on trial Yeah you talked about That and you obtain very labored up about it How algorithmic safe money appeared to Be doomed to fail correct there are events Where I'm pretty sure Daquan claims that There was some kind of exogenous assault That led to the downfall there are some Lunatics which is what the Luna devoted Call themselves they suppose that as correctly Many others I imagine you your self thought It was inevitable Could you merely enhance on that solely a Little bit additional to talk just a bit bit More regarding the the yeah in order that of us Know that I'm I'm very credible on this Topic uh I wrote and revealed a bit About how Luna would fail two weeks Before it actually occurred Um and we detailed and I'm not the one Person to try this quite a few totally different of us

Have described intimately exactly the way in which it Would happen and the way in which it then did happen Um and also you notice the issue to know About all of this that's most Fundamental is that whatever the approach through which he Presented himself dokwan is a fairly Dumb man if he ever thought any of this Was actually sensible his thoughts is not Working on the best functionality And he's using his Stanford diploma to Snow of us Um and also you notice the uh the reality is That he was all the time making statements That kind of evaded the first stage that Were distracting of us from the central Claim that he might create one factor That was algorithmically safe Including the selection that he made uh At the beginning of ultimate 12 months to start this large reserve it was Supposed to quote unquote help stabilize Tara USD actually what it really was Was an exit rip-off this was doe Quan Getting his stash capable of flee with Um and and we observed that that's what Actually occurred so um you notice the pink Flags had been far and vast I I actually really feel Bad for the particular person retail retailers Who purchased taken in by this maybe you'd Blame plenty of the VCS who led you as a lot as Primrose path who should have acknowledged Better Um nevertheless you notice that's merely an Embarrassment all through for for tons

Of people who should be embarrassed and Should go away Um and by no means merely do Quan each Yeah David I purchased that's all about Bitcoin and I purchased yet one more question for You let's carry this once more to bitcoin you Kind of talked about it just a bit bit what's Your Bitcoin angle proper right here why does this Matter to bitcoin Uh correctly I suggest for plenty of causes uh But the apparent one is just that You know he did say he was attempting to Build this reserve and also you notice of all Of the who should be embarrassed Bitcoiners are often not the perfect on the List nevertheless they're up there because of Bitcoiners purchased smitten by what do Quan was doing in early that they had been Saying it's good this man's gonna buy 10 billion {{dollars}} worth of bitcoin Number go up Um and most of them didn't take a greater Look and also you notice I I went on Peter McCormick's current a few months previously and he Made this stage that you just notice even You are a hardcore bitcoiner even dare I Say a maxi Um this highlights the reality that you just Have to know totally different points that are Going on inside the home you cannot Strictly be aware of bitcoin Because clearly if dokon had been Allowed to assemble this reserve And then it had blown up

Um that may have been an unlimited event for The Bitcoin Market uh there are nonetheless Going to be impacts for the Bitcoin Market on only some hundred million Dollars that he had left that he's been Um and which will nonetheless a number of of it is be Frozen I imagine the amount nonetheless caught is Probably only a bit north of 100 Million so maybe not massive nevertheless nevertheless These points all have impacts Um and and it's all interconnected and You have to pay attention even do you have to Know like I did that one factor like Luna Is an illegitimate fraud enterprise Um it nonetheless has implications and impacts Yeah fully agree David I'm Not Without Blame I did write regarding the Luna Foundation guard and the way in which it was searching for Bitcoin and the way in which it might want been a Good issue nevertheless Nevertheless proper right here we're anyway David Thank you to your time Uh thanks loads and yeah we're get just a bit little uh plug proper right here on The show display screen nevertheless attempt crypto Crooks The podcast on all of your podcast Platforms we have got two seasons out uh and If I can talk frankly it's really Really good so go check it out