The co-founder of Terraform Labs Pte, the creator of $LUNA and $LUNC Do Kwon, pleaded guilty to charges in a fraud trial in the U.S. linked to the $40 billion collapse of the TerraUSD stablecoin in 2022.

Kwon pleaded guilty to conspiracy and wire fraud under a deal with prosecutors at a hearing held this Tuesday in New York.

This is undoubtedly a heavy blow for the #lunatic