The crisis of the collapse of the FTX crypto exchanger has not yet subsided when the co-founder of Terra Do Kwon appeared to blame the former Chief Executive Officer (CEO) of FTX, Sam Bankman-Fried (SBF) and Genesis Trading as the cause of the destruction of Terra-LUNA.
This follows because Do Kwon is very confident that Genesis Trading has provided $1 billion in TerraUSD (UST) stablecoin to SBF or Alameda Research which was also founded by the CEO of FTX.
He is reported to have issued a statement while federal prosecutors are investigating the case of FTX and Alameda Research who most likely committed fraud in the market and as a result Terra-LUNA fell.
Do Kwon also wrote a statement on his Twitter account about how FTX, Alameda Research including Genesis could be the cause of the fall of stablecoins LUNA and UST.
He explained further, Genesis has bought billions of dollars in UST from Luna Foundation Guard (LFG) to transfer it to FTX or Alameda while SBF has used it to manipulate the market price in order to make some profit.
As such, Do Kwon questioned why Alameda borrowed over $2 billion in Bitcoin (BTC) from Voyager and other large companies for $10 billion.
Not only that, he also wants SBF to reveal the truth behind the big transaction because he believes Alameda Research has placed a big bet on the fall in the price of LUNA.
