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Do Kwon may change plea to guilty in crypto collapse case

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by Giorgi Kostiuk

8 hours ago

Terraform Labs founder Do Kwon is set to change his plea to guilty in a Manhattan court, facing charges of fraud and conspiracy related to the $40 billion cryptocurrency crash.

Change of Plea

Reports indicate that Do Kwon plans to change his plea to guilty in a Manhattan court, where he faces fraud and conspiracy charges related to the Terra USD and Luna crash.

Court Preparation

Judge Engelmayer has ordered that Do Kwon prepare a detailed statement in court addressing each charge he intends to plead guilty to, urging his lawyers to prepare it in advance.

Future of Do Kwon's Case

A guilty plea could conclude the proceedings in the United States but may lead to separate prosecution in South Korea. This development would mark a significant event in the cryptocurrency sector, potentially setting a precedent for how crypto fraud is prosecuted.

Today's court hearing could be a pivotal moment for Do Kwon's case, influencing the future of the cryptocurrency industry.

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