Last minute update on the Do Kwon case! 🚨
The co-founder of Terraform Labs, Do Kwon, has pleaded guilty to the charges against him following the collapse of the Terra cryptocurrency, which shocked the market.
This guilty plea is part of a deal that, although it initially contemplated a sentence of up to 25 years in prison, could reduce his sentence to 12 years thanks to his cooperation with authorities.
In addition to the prison sentence, the agreement stipulates that Kwon will have to pay a fine of 19 million dollars and accept his responsibility in the illicit activities of his company.
A stark reminder of the consequences faced by actors in the crypto space who do not act transparently.
The story is still developing and the final sentence is in the hands of Judge Paul Engelmayer.
What do you think of this turn in the case?
#DoKwon #Terra #LUNA #Criptomonedas #Regulación $LUNA
Disclaimer ⚠️
The information provided in the previous post is for informational and educational purposes only. It should not be interpreted as financial, investment, legal, or tax advice. 🚫
Investing in cryptocurrencies and decentralized finance (DeFi) carries significant risks, including the potential total loss of invested capital. ⚠️
Always do your own research (DYOR - Do Your Own Research) 🫵🏻
