Do Kwon’s Guilty Plea is Official, a Crypto-Kidnapping Cop Gets Charged, and Mining Controversies Roil Texas and Kazakhstan | August 13, 2025
Description
Do Kwon pleads guilty in the U.S. over the Terra-USD and Luna collapse, admitting to misleading investors and hiding rescue efforts during a 2021 depegging (1:16 ), while a former Los Angeles police officer faces life in prison after an alleged crypto-related kidnapping and robbery in Koreatown (2:41 ). Also: Texas’ Public Utility Commission takes its fight over Bitcoin mining data to court, pitting security concerns against transparency advocates (3:57 ). Finally, Kazakhstan dismantles a multi-million-dollar illegal power network feeding cryptocurrency miners, seizing luxury assets and tightening regulations (5:33 ).
This is your essential update on the forces shaping what’s next in money.
More on stories and articles discussed or referenced in this episode:
Chavez, Paloma. “Former Cop Joins Group in Violent Home Invasion to Steal Crypto, CA Officials Say.” Sacramento Bee, 12 August 2025, https://www.sacbee.com/news/california/article311676604.html.
“Kazakhstan Dismantles the Largest Network for Supplying Electricity for Cryptocurrency Mining.” Arabic Trader, 12 August 2025, https://www.arabictrader.com/en/news/cryptocurrencies/191800/kazakhstan-dismantles-the-largest-network-for-supplying-electricity-for-cryptocurrency-mining.
Ostroff, Caitlin, Sam Kessler, and Alexander Osipovich. “Crypto Entrepreneur Do Kwon Pleads Guilty to Fraud Charges Stemming From Crypto Crash.” The Wall Street Journal, 12 August 2025, https://www.wsj.com/finance/currencies/crypto-entrepreneur-do-kwon-pleads-guilty-to-fraud-charges-stemming-from-crypto-crash-50c032fe.
Peters, Keaton. “State Utility Commission Sues Texas Attorney General to Avoid Releasing Data on Crypto Companies’ Power Use.” Straight Arrow News, 11 August 2025, https://www.texastribune.org/2025/08/11/texas-public-utility-commission-cryptocurrency-mining-power-lawsuit/.
The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.
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