Do Kwon Sentenced for Crypto Fraud
Update: 2025-12-11
Description
Do Kwon, the cryptocurrency king, faces sentencing after pleading guilty to fraud charges. His company, Terraform Labs, promoted TerraUSD as a stablecoin, but prosecutors argue it was a deception leading to billions in losses. Kwon agreed to give up $19 million and his lawyers seek a five-year sentence, attributing his actions to overconfidence and desperation. The collapse of Terraform Labs resulted in a $40 billion market value drop, affecting investors worldwide.
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