Do Kwon, cofounder of Terraform Labs, was recently served subpoenas by the US Securities and Exchange Commission during Messari’s mainnet event, leading Kwon and Terraform to preemptively sue the SEC. On Unconfirmed, Kwon discusses:

• what Terraform Labs does and how it is building its DeFi ecosystem around TerraUSD ($UST)
• why Terraform Labs created its synthetics protocol, Mirror, and how it works
• what Do thinks about the SEC’s investigation into Mirror
• what happened to Do at Messari’s mainnet event
• why the SEC’s approach to crypto regulation does not impact Do very much
• what Do thinks about how US regulators are treating crypto companies
• how Do would regulate the crypto industry
• why he believes the current state of crypto regulation doesn’t work in a global context
• why he says the SEC couldn’t do anything to TerraUSD -- even if it wanted to
• what two characteristics are critical in building a decentralized protocol
• how the crypto industry could improve security in light of the $130 million Cream Finance hack

Thank you to our sponsors!

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Episode Links

Do Kwon

• Twitter: https://twitter.com/stablekwon 

Terra

• Twitter: https://twitter.com/terra_money 
• Website: https://www.terra.money/ 
• Terra ecosystem: https://docs.terra.money/Reference/ecosystem.html 

SEC Lawsuit

• CoinDesk
• • https://www.coindesk.com/business/2021/10/23/terras-do-kwon-was-served-by-sec-new-lawsuit-shows/ 
• Terraform V SEC
• • https://www.scribd.com/document/534537134/Terraform-v-SEC 
• Stephen Palley
• • https://twitter.com/stephendpalley/status/1451709816020348933 

Messari Mainnet Serving

• https://twitter.com/gogoSlava/status/1439972015910408195 

Miscellaneous

• SEC charging Abra
• • https://www.sec.gov/news/press-release/2020-153
• Stablecoin market cap comparison
• • ​​https://coinmarketcap.com/view/stablecoin/ 

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