Deep Tide TechFlow news, on August 12, according to The Block, documents from the U.S. District Court for the Southern District of New York indicate that Terraform Labs co-founder Do Kwon may change his original position and plead guilty on Tuesday morning. Previously, Do Kwon was charged by U.S. prosecutors in March 2023 with multiple counts related to the collapse of the algorithmic stablecoin Terra USD (UST), including conspiracy to commit fraud, commodity fraud, wire fraud, securities fraud, market manipulation, and money laundering.

Judge Paul Engelmayer stated in the scheduling order, "The court has been informed that the defendant may change his plea," and requested the defendant to be prepared to make a statement regarding the guilty plea. Do Kwon had previously pleaded not guilty to all charges in January of this year.