Do Kwon Says Five Years in Prison Is Enough for Terra’s $40B Collapse

The post Do Kwon Says Five Years in Prison Is Enough for Terra’s $40B Collapse appeared first on Coinpedia Fintech News

Terraform Labs co-founder Do Kwon says he should receive no more than five years in prison in the US for his role in the multibillion-dollar TerraUSD collapse. Kwon pleaded guilty in August to conspiracy and wire fraud, avoiding trial after his extradition from Montenegro, where he was earlier arrested for using a fake passport while evading charges from South Korea. The 2022 implosion wiped out $40 billion, triggering global regulatory scrutiny and one of the crypto industry’s biggest fraud cases.