Terraform’s Do Kwon Pleads Guilty in $40B TerraUSD Fraud Case

Terraform Labs co-founder Do Kwon pleaded guilty on Tuesday in Manhattan federal court to one count each of conspiracy to defraud and wire fraud stemming from the 2022 collapse of the algorithmic stablecoin TerraUSD and its companion token Luna, an event that erased about $40 billion in value from cryptocurrency markets