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fromFast Company
1 day ago
US news

Crypto founder Do Kwon sentenced to 15 years in prison for $40 billion Terraform Labs fraud

Do Kwon was sentenced to 15 years for orchestrating a $40 billion crypto fraud that devastated investors and charities.
fromwww.theguardian.com
1 day ago
US news

Crypto mogul Do Kwon sentenced to 15 years in prison for fraud

Do Kwon received a 15-year US prison sentence for fraud after Terraform Labs' TerraUSD and Luna collapse that cost investors about $40 billion.
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fromFast Company
2 days ago

'Crypto king' Do Kwon faces sentencing for misleading Terraform Labs' investors

Kwon, known by some as "the cryptocurrency king," pleaded guilty in Manhattan federal court in August to fraud charges stemming from Terraform Labs' $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 cascade of crises that swept through cryptocurrency markets."
Law
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