This update means Do Kwon’s legal battle in the U.S. could take a major turn.

If he changes his plea from not guilty to guilty on some or all of the nine felony counts, it could signal that his defense team has reached — or is negotiating — a plea deal with prosecutors. That might reduce potential sentencing but would also mean officially admitting to certain charges.

The judge’s request for a narrative allocution is significant — that’s where Kwon would have to personally, in open court, describe what he did that makes him guilty under the law. This isn’t just paperwork; it’s a detailed, verbal acknowledgment of wrongdoing that becomes part of the court record.

Given the scale of the Terraform Labs collapse and the billions lost in LUNA/UST, a plea change could also influence related cases, civil suits, and sentencing guidelines.

If you want, I can break down what a plea change hearing involves step by step so you can see exactly what might happen on Tuesday.