Do Kwon Pleads Guilty to US Fraud Charges In $40 Billion Crypto Collapse

Terraform Labs founder Do Kwon pleaded guilty to conspiracy to defraud and wire fraud in connection with the $40 billion collapse of TerraUSD and Luna in 2022. Facing up to 25 years in prison, he admitted to misleading investors about the stablecoin’s value maintenance, with a potential sentence of no more than 12 years if he takes responsibility for his actions.

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