👨🏻 Do Kwon, the founder of Terraform Labs, has pleaded guilty to multiple criminal charges, including fraud, conspiracy, and money laundering.
🥹 His overall strategy is unclear, according to court documents. Guilty pleas are often tied to the intent to testify against co-conspirators, but Do Kwon is a key figure in this case.
💯 The charges could carry a maximum sentence of 100 years. It is unclear whether he plans to take a plea deal or hope for leniency.
👨🏻 Do Kwon, the founder of Terraform Labs, has been at the center of legal battles since the collapse of the TerraUSD stablecoin and Luna token in 2022. He faces nine federal charges after being arrested in Montenegro and extradited to the United States. He pleaded guilty today.
💯 Court reporters say Do Kwon will avoid trial by pleading guilty in advance. That’s a big decision. If convicted on all nine charges, he could face up to 100 years in prison.
