Unchained

Unconfirmed: Why Terraform Labs Cofounder Do Kwon Is Unfazed by US Regulators - Ep.285

Oct 29, 2021

Do Kwon, co-founder of Terraform Labs, dives into the world of decentralized finance and the challenges it faces under US regulations. He explains the purpose behind their stablecoin, TerraUSD, and discusses the innovative Mirror protocol. Kwon reveals why he remains undeterred by the SEC’s scrutiny and shares his thoughts on effective crypto regulation. He emphasizes the need for a global approach to regulation and the importance of robust security measures in DeFi, especially after the recent Cream Finance hack.

38:14

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Episode guests

Do Kwon

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Episode notes

Intro

2min

Navigating Innovation and Regulation in Crypto

6min

Navigating Crypto Regulation

6min

Navigating Regulation in DeFi and Stablecoins

10min

Crypto Regulation Updates and Payment Innovations

4min

Crypto Market Dynamics: Trends and Transformations

8min

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