UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Col

Basis Cash, an algorithmic stablecoin project founded by the anonymous “Rick” and “Morty” in 2020, was actually the work of Terraform Labs employees.

Do Kwon, the CEO of Terra creator Terraform Labs, was one of the pseudonymous co-founders behind the failed algorithmic stablecoin Basis Cash.

UST Falls to $0.35, Terra Futures See $106M in Liquidations

Crypto crash reveals stablecoins like Terra and Tether are not s