【Do Kwon Pleads Guilty: Prosecutor Recommends No More Than 12 Years in Prison】On August 13, news reported that Do Kwon pleaded guilty to two counts of fraud in a federal court in New York on Tuesday. The 33-year-old co-founder of Terraform Labs developed the TerraUSD and LUNA tokens, which collapsed in 2022, causing losses of approximately $40 billion. Although the statutory maximum sentence is 25 years, the prosecutor agreed to recommend no more than 12 years in prison if he shows remorse and pleads guilty. The presiding judge will issue a sentencing decision on December 11. This case is one of the key cases during the cryptocurrency winter of 2022, when several digital asset companies went bankrupt.