Born in 1991, Kwon attended South Korea's elite Daewon Foreign Language High School where, according to a book he wrote about his school days, he founded an English-language student paper and competed in various English debating championships.
He quickly rose to fame, partly thanks to Shin's connections, successfully branding himself as a young industry luminary. Unlike other stablecoins backed by real-world assets such as cash or gold, TerraUSD was algorithmic - pegged only to sister currency Luna, using maths and incentive mechanisms to maintain their peg.
A full investigation of Kwon should help clarify what happened when Terra/Luna collapsed, he said, adding this was necessary to improve the crypto industry as a whole.
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