Terraform Labs Co-Founder Do Kwon Faces Sentencing in TerraUSD Fraud Case

According to Odaily, Terraform Labs co-founder Do Kwon has stated that his sentence in the United States for involvement in the 2022 TerraUSD stablecoin collapse, which amounted to approximately $40 billion, should not exceed five years. Kwon admitted to charges of conspiracy and wire fraud in August, thereby avoiding a trial. Last year, he was arrested and convicted in Montenegro for using a fake passport and was subsequently extradited to the U.S. as a wanted individual from South Korea.