🥛 6 Takeaways from Do Kwon’s first interview since Luna collapsed
GM. This is the Milk Road, the crypto newsletter that gives you the same feeling as when you hear the Ice Cream Truck driving around your hood. R.I.P to my go-to… the Choco Taco.
Here's what we got cooking today:
Do Kwon breaks his silence
Numbers of the Day
Meme of the day
DO KWON BREAKS HIS SILENCE
Do Kwon is back on camera.
It's been over 3 months since the collapse of Luna, aka that time we lost it all, and the man behind the fall of a $40b+ empire finally spoke out in his most recent interview with Coinage.
But before we jump in, I gotta say… Do looks like shit.
He looks like he just finished back-to-back Presidential terms.
Now, let’s dive into what he said:
Do doesn’t believe he committed any fraud. He thought Luna was the future and argued that everything was working perfectly before the attack that caused the depeg.
The attack on Luna was an insider job. Kwon says the only people that knew of Luna’s movements for that specific time were employees. It was the perfect window to attack and make profits along the way.
Many Terraform team members wanted to raise the 20% APR. Contrary to reports that the team advised Do to lower the yield, he says most were on board and some even suggested “several thousand % APR”.
Do says he isn’t like Elizabeth Holmes. He argues the comparisons are baseless. She straight up lied about a product working. He claims that Luna was working perfectly until it got attacked.
Do admits he developed an alter ego on Twitter. But claims it was only because he was trying to match the energy of the community he was engaging with.
So what’s next? He plans to keep building. “I think what I spend time doing over the next 20 years is going to be more meaningful than what happened with Luna”
The Milk Road's Take: Do said everything you’d expect him to say. Hopefully this kicks off his press tour and even more hard-hitting questions come his way.
Because we know when there's smoke, there's even more fire.
P.S. if you can get us to Do, hit reply to this email…we wanna interview him!
NUMBERS OF THE DAY
6,200 BTC were sold by public mining companies last month. It’s the 3rd straight month where miners are selling more bitcoin than they mined.
But on the bright side: last month was a big improvement from June when over ~15k BTC was sold.
$80m is how much Ed, the 27-year-old founder of Stake.com, just paid for this fat mansion in Australia.
It’s a 7200 sq meter property with 10 bedrooms. Oh btw, it’s a derelict mansion…. aka it’s a “ghost mansion”. No one has lived inside for 30 years.
Stake.com is one of the most popular online crypto casinos. They:
Have partnerships with some of the biggest names like Drake and the Nelk Boys to stream their bets online
Have processed billions of dollars in bets on sports, slots, and casino table games
Are valued at over $1b
It isn’t Ed's first big purchase either. He’s currently living in this $38.5m home that he bought earlier this year.
Crypto needs a version of MTV cribs. Maybe that's our calling?
150,000 ETH is how much this wallet purchased 6 years ago. ETH was $11.08 and the investment was worth $1.66M
Today that’s worth over $285m. All from diamond handing like a f*cking boss.
And the wallet is active for the first time in ~3 years. 145,000 ETH has been moved out in the last few days. The owner split the ETH to 7 different wallets, so it’s unclear if they’re taking profits or moving assets around…
But wow, talk about a flip….$1.66m → $285m (172x return).
TODAY'S EDITION IS BROUGHT TO YOU BY CUTS
The days of wearing a suit in the office are long gone.
Stiff, uncomfortable, and honestly just outdated.
But, you still can’t walk into the office or log onto that zoom meeting in your workout gear. That’s why, for all of our office attire, we go with CUTS.
CUTS created a new category of apparel called Worklesiure – comfortable, elevated performance attire that’s tailor-made for the office, dinner dates, and really any situation where you want to look good.
They’re already the brand of choice for hundreds of thousands of men, and they just launched a brand new women’s line.
For this week only, they’re running their biggest sale ever. That’s 25-50% OFF sitewide. They’ve never done this, so I would jump on it while it lasts.
MEME OF THE DAY
CHECK OUT THE DROP
Believe it or not, The Milk Road loves collabing with other newsletters. We wanna make sure all of our readers are getting the best content possible.
Our friends at The Drop have been making a great NFT newsletter about the drops happening every week.
It’s informative, easy to read, and keeps you up to date on all things NFTs.
Make sure to give a sub and a read!
That's a wrap for today. Stay thirsty and see ya tomorrow!
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Vitalik once met the President of Argentina. Now Argentina is announcing they will deploy Ethereum validator nodes in Buenos Aires.
That's the power of a Vitalik handshake.
A ROADERS REVIEW
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
