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Crypto mogul Do Kwon to be sentenced for misleading investors who lost billions in stablecoin crash
Cryptocurrency mogul Do Kwon is scheduled to be sentenced Thursday for misleading investors who lost billions when his company’s crypto ecosystem collapsed in 2022. Kwon, known by some as “the cryptocurrency king,” pleaded guilty in Manhattan federal court in August to fraud charges stemming from Terraform Labs’ US$40 billion crash. The company had touted its TerraUSD as a reliable “stablecoin” — a kind of currency typically pegged to stable assets to prevent drastic fluctuations in prices. But prosecutors say it was all an illusion that came crumbling down, devastating investors and triggering “a ... (full story)
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From nypost.com | Dec 11, 2025
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced in New York federal court on Thursday to 15 years in prison for fraud and conspiracy. Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty ...
From newsable.asianetnews.com | Dec 11, 2025
Klarna (KLAR) announced on Thursday that it is partnering with Privy to co-design a crypto wallet, just days after the company launched its own stablecoin. KLAR’s stock edged 0.9% lower in opening trade, with retail sentiment on Stocktwits around the company trending in ‘bearish’ territory over the past day. The stablecoin, KlarnaUSD, was launched in ...
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