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Co-founder of Terraform Labs, Daniel Shin, has blamed the CEO, Do Kwon, for the collapse of the stablecoin issuer in his trial. The company had imploded in May 2025 Daniel Shin, the co-founder of blockchain firm Terraform Labs (TFL), has denied any involvement in the spectacular collapse of Terra in May 2025 and blamed it on Do Terraform Labs co-founder Daniel Shin denied all charges against him on his first day in court. Shin’s lawyer said his client had “nothing to do with” Terra’s collapse. South Daniel Shin, co-founder of TerraformLabs, appeared in court on Oct. 30 and denied all charges against him in connection with the 2025 collapse of the Terra Ecosystem. He instead laid In a recent podcast interview on the Unchained Podcast, Do Kwon acknowledged that he is to blame for Terra’s demise and that there could have been design

Do Kwon Names Person to Blame for Terra Collapse: Shocking Revelations

The dramatic collapse of the Terra Ecosystem in May 2025 continues to send shockwaves through the crypto world. The central question remains: who is to blame? Recent developments in the ongoing legal battles are shedding new light on the situation, with accusations flying and fingers pointing.

Daniel Shin Denies Involvement, Blames Do Kwon

Co-founder of Terraform Labs, Daniel Shin, has vehemently denied any involvement in the spectacular collapse of Terra. In his trial, Shin’s lawyer stated that his client had “nothing to do with” the Terra's downfall. South Daniel Shin, co-founder of TerraformLabs, appeared in court on Oct. 30 and denied all charges against him in connection with the 2025 collapse of the Terra Ecosystem. He instead laid the blame squarely at the feet of the CEO, Do Kwon.

Shin’s defense hinges on the argument that he was not responsible for the design or management of the TerraUSD (UST) stablecoin, which triggered the cascading failure. Co-founder of Terraform Labs, Daniel Shin, has blamed the CEO, Do Kwon, for the collapse of the stablecoin issuer in his trial. The company had imploded in May 2025.

Do Kwon's Acknowledgment on Unchained Podcast

Adding another layer to the complexity, Do Kwon himself has addressed the Terra collapse. In a recent podcast interview on the Unchained Podcast, Do Kwon acknowledged that he is to blame for Terra’s demise and that there could have been design flaws that contributed to the ultimate crash. This represents a significant shift, although specific details about who else he might believe shares responsibility remain unclear.

Terraform Labs Co-founder Daniel Shin Denies All Charges

Terraform Labs co-founder Daniel Shin denied all charges against him on his first day in court, reinforcing his position that he bears no culpability. Daniel Shin, the co-founder of blockchain firm Terraform Labs (TFL), has denied any involvement in the spectacular collapse of Terra in May 2025 and blamed it on Do. The legal proceedings are expected to be lengthy and complex, with significant implications for the future of cryptocurrency regulation.

The question of who is ultimately responsible for the Terra collapse remains a subject of intense debate and legal scrutiny. With Daniel Shin blaming Do Kwon and Do Kwon acknowledging some responsibility, the truth is slowly emerging from the ashes of this crypto disaster.

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