Well, the good news is that the LUNA/UST mess doesn’t appear to be impacting the way overseas companies view Korean blockchain projects in general.
According to CoinDesk Korea, most of the people they talked to at Consensus 2022 in Austin, Texas say the nationality of Terraform Labs CEO, Do Kwon, has had no impact on the mood of the U.S. digital assets market.
Matrixport Ventures CEO Chris Tham said he didn’t feel that the image of the Korean market had changed due to Terra because the Terra problem was a personal one related to its CEO.
Somebody from a major U.S. bank agreed, saying that the perception of the Korean market hadn’t worsened just because Do Kwon is Korean. He added that traditionally conservative banks were approaching digital assets in a careful manner given that problems have arisen in algorithmic stable coins.
Somebody from bitcoin mining company Foundry added that he hadn’t heard talk of U.S. investors avoiding investing in the Korean market just because of Terra.
Korean companies attending Consensus 2022, however, had mixed feelings about the atmosphere.
PlayDapp, which has a booth at Consensus 2022, said the Terra fiasco has had no impact. To the contrary, visitors to their booth have shown a lot of interest in their services and are asking lots of questions.
Another Korean participant, however, said overseas participants have been less-than-active in their networking with Koreans, and that he’d heard that a U.S. investor told somebody from a Korean company that he was avoiding investing in the Korean market after Terra.
The Iconist’s Note: Seems like most people agree that the Terra situation hasn’t negatively influenced perceptions of Korean projects as a whole. Nor should it, of course — we’d like to believe most investors are smart enough to know that you don’t avoid investing in a good company just because the CEO of a particularly problematic company comes from the same country. And as we’ve reported before, there are plenty of reasons to think that Korean companies are a good bet going forward, especially as the political environment grows increasingly crypto friendly.
