⚖️ Do Kwon Pleads Guilty in TerraUSD Fraud Case
Terraform Labs founder Do Kwon has pleaded guilty to fraud and conspiracy charges in a U.S. court, admitting his role in the 2022 collapse of the TerraUSD (UST) stablecoin.
The implosion wiped out over $40 billion in market value, triggered a wave of bankruptcies, and severely damaged investor confidence in algorithmic stablecoins.
Kwon now faces a potential sentence of up to 130 years in prison. The case is set to become one of the largest criminal proceedings in the history of the crypto industry.