• Regulation

    Do Kwon Finally Pleads Guilty to $40 Billion Fraud, Faces Just 12 Years in Prison

    August 13, 2025 - By 

    Do Kwon, the founder behind the collapsed Terra cryptocurrency project, finally pleaded guilty on Tuesday to fraud charges that wiped out billions of dollars from investors. Kwon admitted he knowingly deceived buyers about his company’s flagship products between 2018 and 2022. Do Kwon, hailing from South Korea, founded Terra, a crypto ecosystem that promised huge returns through its LUNA token and TerraUSD stablecoin. Authorities say he ran a fraudulent scheme that made him rich but devastated investors when the project collapsed in 2022. Kwon reverses plea, admits to fraud Kwon changed his plea after initially fighting nine criminal charges, including…

  • what happened in crypto yesterday
    Cryptocurrency

    Do Kwon pleads guilty And Fed Rate Cut Could Be The Anvil

    August 13, 2025 - By 

    You missed what happened in crypto yesterday? Don’t worry, we’ve got you covered! Terraform Labs Founder Pleads Guilty Terraform Labs co-founder Do Kwon pleaded guilty to two counts of wire fraud and conspiracy to defraud, waiving his right to a trial on these charges.  The plea agreement, reported on August 12, 2025, by the US District Court in the Southern District of New York, includes $19 million in financial penalties and a potential prison sentence of up to 25 years if served consecutively, though prosecutors will reportedly recommend no more than 12 years.  Kwon’s sentencing is set for December 11,…