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Crypto mogul Do Kwon is set to be sentenced on Thursday for misleading investors who lost billions when his crypto company Terraform Labs collapsed in 2022. Kwon pleaded guilty to fraud after his “stablecoin” TerraUSD crashed, wiping out about $40 billion in market value.
Prosecutors say his lies caused massive damage across the crypto market and are asking for a 12-year sentence, while his lawyers want no more than five years. Do Kwon has admitted responsibility and agreed to give up more than $19 million.
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Original Source: abcnews.go.com
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