Is Terra’s Do Kwon the Bernie Madoff of crypto?
Hello and welcome back to the Chain Reaction podcast, where we unpack and explain the latest crypto news, drama and trends, breaking it down block by block for the crypto curious.
This week, Terra relaunched its Luna token after the dramatic implosion of its cryptocurrency and the associated stablecoin. The new token was airdropped to holders of the previous coin, which has now been renamed Luna Classic. But simply dropping a new coin into customer wallets doesn’t undo the tens of billions of dollars’ worth of damage done by the ecosystem’s collapse. We talked about the new token and the increasing legal struggles that Do Kwon and Terraform Labs might soon find themselves engaging with as South Korean authorities reportedly start poking around.
Other than news surrounding Terra, we talked about some of the latest managerial efforts of Coinbase, which is increasingly finding itself in a tough position. We also dug into the latest efforts of OnlyFans founder Tim Stokely who just launched an NFT startup.
Our guest: Outdoor Voices’ founder Ty Haney
In our interview this week, we sat down with Ty Haney. Haney is best-known as the founder of athleisure wear empire Outdoor Voices, but after stepping back from the company recently, she’s been dabbling with NFTs and trying to plot a new crypto future for brands with her startup Try Your Best. We talked about her new effort and the challenges of building a sustainable business in crypto in the midst of a market downturn.