Terra pyramid founder suspected of creating another stablecoin

A forked version of the original Terra blockchain may receive another stablecoin, a project insider with the nickname FatMan tweeted.

According to him, an insider close to Terraform Labs confirmed that Do Kwon is already working on the design of a new stablecoin based on Terra 2.0. Earlier, Kwon publicly stated that the algorithmic stablecoin would not appear in the fork.

6/ The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called «Terra» (token Luna — $LUNA), and the old chain should be called «Terra Classic» (token Luna Classic — $LUNC). Both chains will coexist.

— Do Kwon (@stablekwon) May 16, 2022

At the time of writing, Terra representatives have not refuted these rumors. However, even if this happens, the credibility of Kwon and his team is seriously undermined by the lawsuit and the testimony of employees who confirmed that Do Kwon knew about the impending collapse of the stablecoin from the very beginning.