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Do Kwon Pleads for Five Years in Prison Over $40B TerraUSD Collapse: Report
Do Kwon, the co-founder of Terraform Labs, is asking a US court to limit his prison term to five years for his role in the dramatic collapse of the TerraUSD stablecoin, which wiped out $40 billion in 2022. Kwon’s request comes ahead of his December sentencing in Manhattan, where a judge will decide the length of his term following his guilty plea to conspiracy and wire fraud, Bloomberg reported. Kwon recently pleaded guilty, avoiding a trial after his extradition from Montenegro, where he had been arrested and convicted for using a fake passport while evading charges in South Korea. His lawyers argued in court ... (full story)
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