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    1. The only thing we can blame Do Kwon for was greatly exaggerating the safety of the ecosystem. I don’t think there was any major direct fraud he can be convicted of. A lot of CEOs overmarket their products.

      The actors who initiated the collapse were completely unrelated to Do Kwon.

      In hindsight, the Terra Luna fiasco actually had some of the **least** fraud in the previous cycle compared to **actual** fraud like in FTX and Celsius Networks.

      The whole ecosystem was an algorithmic stack of cards due to Anchor protocol and the whole CeFi lending system.

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