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Last updated: June 18, 2025, 23:33  |  Written by: Brad Garlinghouse

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

Basis Cash: The failed algorithmic stablecoin Do Kwon

Ex-Terra Employees Claim That Do Kwon Was Behind the Earlier

Former Employees Of Terra Are

Former employees of Terra are claiming that the developer was also the founder of another failed stablecoin project called Basis Cash, as reported by Coindesk.

Do Kwon Explains His Role In Failed Stablecoin Basis Cash

Kwon claims that one of those five employees was inspired by Basis, an earlier stablecoin project that would give Basis Cash its name, and “yield farms” that were

Ust

Ex-Terra Employees Claim That Do Kwon Was Behind

Terra Luna crashes 97%; was Do Kwon founder of another failed

UST’s Do Kwon was the mastermind of the failed stablecoin project called the Basis Cash, as per the learnings. The findings by Coindesk suggest that the CEO of Terraform Labs was one of

Do Kwon Outed as Co-Founder of Previous Failed

Brad Garlinghouse can be reached at [email protected].

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