Terraform Labs co-founder and former CEO Do Kwon is expected to plead guilty in federal court in the Southern District of New York on Tuesday morning. Judge Paul Engelmayer said Kwon needs to prepare a detailed statement of the facts of the crime, and a plea hearing will be held on Tuesday.
Previously, US prosecutors charged Kwon in March 2023 with fraud, commodity fraud, wire fraud, securities fraud, market manipulation, and money laundering in connection with the collapse of its dominant algorithmic stablecoin Terra USD (UST), which resulted in billions of dollars in losses. Kwon denied all charges in January this year.
Terraform Do Kwon may plead guilty
2025-08-11 20:25:58
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