Do Kwon 🌕

@stablekwon ↗

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Last Checked Dec. 7, 2022

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Wed Nov 16 13:37:30 +0000 2022

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Do Kwon 🌕 @stablekwon

7/ The audit report published by JS Held today addresses many of the allegations around the use of LFG's funds, primarily: - Were there any misuse of funds? (embezzlement, insider benefit etc) - Did LFG have any other funds not publicly disclosed? And were those funds frozen? — PolitiTweet.org

Posted Nov. 16, 2022

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Do Kwon 🌕 @stablekwon

6/ While I was wrong (and terribly so), I maintain there was no fraud. TFL donated what was then >$3B to establish @LFG_org to diversify UST's collateral backing, and focused our investments to grow Terra's ecosystem. We wouldn't have done this if we thought UST were to fail. — PolitiTweet.org

Posted Nov. 16, 2022

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Do Kwon 🌕 @stablekwon

8/ The audit concluded that: ➡️ LFG spent $2.8B (80,081 $BTC and 49.8M in stablecoins) to defend $UST’s peg, consistent with LFG’s tweets on May 16th, 2022 ➡️ Additionally, TFL went above and beyond and spent $613M of its own capital to defend the $UST peg — PolitiTweet.org

Posted Nov. 16, 2022