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Disgraced Cryptocurrency Mastermind’s Guilty Plea To Fraud Could Give Victims Tax Relief
Last week, Do Kwon, a man who a few years ago was one of the most famous names in the cryptocurrency world, pleaded guilty to one count of conspiring to commit commodities fraud, securities fraud, and wire fraud and one count of committing wire fraud in connection with fraudulent schemes. His actions caused a major crypto crash in 2022 which vaporized $30 billion in wealth and for some created tax problems in addition to financial loss. Kwon and his company Terraform Labs created two cryptocurrencies: Luna and UST. Luna was a typical cryptocurrency like Bitcoin. But UST was a stablecoin. Stablecoins are generally ... (full story)
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