Do Kwon Pleads Guilty in $40B Terra Collapse
Do Kwon, co-founder of Terraform Labs, has pleaded guilty in a New York court to charges of wire fraud and conspiracy in the TerraUSD/Luna collapse, which caused around $40 billion in losses.
As part of a plea deal, his maximum prison term may be reduced to 12 years, though a 25-year sentence remains possible.
He previously settled a United States SEC lawsuit for $80 million and has been barred from further crypto involvement.
