Summary

Do Kwon, co-founder of Terraform Labs, may admit to criminal fraud charges triggered by the collapse of TerraUSD (which had a market value of $40 billion at the time) in 2022 in the United States. Federal Judge Paul Engelmayer of the Southern District of New York has scheduled a plea hearing for Tuesday; if Kwon pleads guilty, he must detail the specifics of his actions in court. His lawyer has not responded to Bloomberg's request for comment.