Do Kwon, co-founder of Terraform Labs, is set to change his plea on August 12, 2025, marking a significant legal turning point in the months-long case.
This action will significantly impact the processing of the case related to serious fraud and money laundering allegations. The case has attracted public attention in the global cryptocurrency sector.
MAIN CONTENT
Do Kwon is preparing to change his plea in court on August 12, 2025.
He faces many serious allegations such as securities fraud and money laundering.
The price of LUNA Token is negatively impacted, failing to recover even as the cryptocurrency market rises.
How will Do Kwon change his plea on August 12, 2025?
Do Kwon is expected to make a new plea in the court in New York, according to the U.S. federal court.
Previously, he pleaded guilty to 9 felony charges including securities fraud, payment system fraud, money laundering, and commodity fraud. Judge Paul Engelmayer requested the parties involved to be present to hear him prepare a comprehensive presentation of the factors of the charge to ensure transparency and efficiency for the trial. Changing the plea could have far-reaching implications for the upcoming legal process.
The hearing will encourage lawyers to help the defendant prepare a plea statement that can be read publicly in court to ensure clarity and effectiveness.
Judge Paul Engelmayer, August 11, 2025, according to U.S. federal court records
What legal situation is Do Kwon facing?
Do Kwon suffered heavy losses due to lawsuits in several countries along with law enforcement agencies seizing assets, including cryptocurrency assets he accumulated during his time at Terraform Labs.
His ability to accept a plea deal puts his legal fate similar to that of FTX founder Sam Bankman-Fried, who is currently serving a 25-year prison sentence in the United States. This situation highlights the seriousness of the case and places significant pressure on Kwon in the prolonged legal battle.
What is the impact of Do Kwon's legal situation on the price of LUNA?
The price of LUNA has fallen sharply, from a market capitalization of over $30 billion previously to about $109 million currently. Despite the global cryptocurrency market showing signs of recovery, LUNA Token still cannot regain its position due to legal ramifications and weakened market confidence.
In the past 24 hours, LUNA fell another 3%, bringing the annual decline to about 50%. Competition is becoming increasingly fierce in the blockchain ecosystem along with deep skepticism about Terra Luna, making LUNA's price outlook negative.
The price of LUNA has not recovered despite the cryptocurrency market returning to an upward trend but is under pressure from legal factors and loss of community trust.
Market analysis, August 2025
Frequently Asked Questions
What charges will Do Kwon plead guilty to?
He had previously pleaded guilty to 9 felonies, including securities fraud, media fraud, money laundering, and commodity fraud.
What does changing the plea mean for the case?
This could significantly alter the trial process and may help shorten legal proceedings or reduce penalties.
How does the case affect the price of LUNA Token?
The price of LUNA Token continues to decline due to loss of trust and the impact of legal allegations against the founder of Terraform Labs.
What penalties could Do Kwon face?
He may face serious penalties, similar to Sam Bankman-Fried who is currently serving a 25-year prison sentence in the United States.
What have law enforcement agencies done with Do Kwon's assets?
Assets, including cryptocurrency assets, have been seized for investigation and processing of the case.
Source: https://tintucbitcoin.com/do-kwon-co-the-thay-doi-loi-khai/
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