Who is Do Kwon?

Do Kwon, also known by his Korean birth name, Kwon Do-Hyung, is the CEO and co-founder of Terraform Labs, a Singapore-based company that created the stablecoin TerraUSD (UST) and the Cryptocurrency, Luna. Kwon is a computer science graduate from Stanford College. Prior to his involvement in the Crypto industry, he worked as an engineer for tech giants Apple and Microsoft.

In May 2022, UST and Luna experienced a sudden collapse, resulting in a loss of nearly $50 billion in market capitalization within a week and causing billions in losses in the Cryptocurrency industry. As a result of the Terra crash, Do Kwon is currently facing legal repercussions from citizens across different jurisdictions, including South Korea, Singapore, and the United States.

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What is Do Kwon's net worth in 2023?

Kwon's current estimated 2023 net worth, post the Terra crash, is believed to be between $135 - $150 million, based on the Bitcoin holdings he has in the Luna Foundation Guard wallet.

However, due to his extensive experience in the Cryptocurrency industry and involvement in multiple projects, his actual net worth could be significantly higher, making it difficult to accurately speculate. In saying that, the absolute minimum estimate for his net worth is $135 million due to the Bitcoin wallet.

It is assumed that the BTC wallet is in Do Kwon's possession as 10BTC has been withdrawn from the wallet via a Bitcoin ATM located in Serbia, where he is thought to be hiding from the South Korean government. Serbia does not currently have an extradition treaty with South Korea, making it an ideal place for Kwon to hide from Korean authorities.

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How did Do Kwon make his fortune?

A majority of Kwon's net worth was made from his two major stablecoin projects Basis Cash and Terra (LUNA). Prior to the Terra crash in 2022, his net worth was an estimated $4 billion. The price of Luna started at $0.1 and had reached $116 per token by April 2022. Basis Cash (BAC) had started at $500 and had a high of $920.

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Will Do Kwon make a comeback in Crypto?

Do Kwon has only made two appearances publicly since the fall of Terra in 2022 which were on Laura Shin's podcast and the UpOnly podcast. In both appearances, Kwon stated that he is already working on several new projects and has begun hiring engineers and developers.

However, it is hard to say if it is even possible for Kwon to make a comeback considering he is currently wanted by multiple governments including South Korea and the United States.

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Bottom Line

Do Kwon is the co-founder of Terra LUNA, a decentralized platform for digital payments and stablecoins that collapsed in 2022. His current estimated net worth in 2023 is between $135 - $150 million, based on the Bitcoin holdings he has in the Luna Foundation Guard wallet.

Despite facing legal repercussions from multiple governments, it seems as though Kwon could be attempting a comeback in the Cryptocurrency industry despite its risks. It remains to be seen if Do Kwon will make a successful return or not.