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The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
Terraform Labs founder Do Kwon's guilty plea brings to an end one of the biggest lawsuits in crypto.
Do Kwon, co-founder of Terraform Labs, is set to plead guilty to two U.S. criminal charges over the collapse of TerraUSD and Luna. Do Kwon Faces Prison After Admitting Role in $40B Crypto Collapse Reu
NEW YORK — Terraform Labs founder Do Kwon pleaded guilty to conspiracy to commit fraud and wire fraud Tuesday morning, three years after the dramatic collapse of the Terra/Luna stablecoin ecosystem.
The guilty plea highlights the urgent need for stricter regulations and oversight in the rapidly evolving cryptocurrency market. The post Do Kwon pleads guilty to defrauding crypto investors in $40 bi
After entering a guilty plea, Do Kwon will likely receive a 12-year prison sentence followed by deportation from the US. His cooperation with the courts has apparently yielded significant leniency.
Terraform Labs co-founder Do Kwon plans to plead guilty to U.S. conspiracy and wire fraud charges tied to the $40 billion collapse of his cryptocurrency projects, a judge confirmed Tuesday.
Kwon was criminally charged in March 2023 with conspiracy to defraud, commodities fraud, wire fraud, and securities fraud, among others.
The Terraform Labs co-founder was indicted in 2023 on nine charges related to the collapse of the ecosystem, resulting in an estimated $40 billion in losses for investors.
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, is planning to plead guilty on Tuesday to two charges of conspiracy to d
TL;DR Do Kwon, co-founder of Terraform Labs, is expected to appear in a New York federal court today where he may alter his initial “not guilty” plea. The move could signal a negotiated resolution
Kwon eyes guilty plea in Terra case in the United States? Recent court revelations hint at a surprising strategy adjustment.

Do Kwon May Change Plea in US Criminal Case

08:30am, Tuesday, 12'th Aug 2025
Terraform Labs co-founder Do Kwon may be preparing to change his plea in the high-profile US criminal case tied to the 2022 collapse of the Terra ecosystem.
Terraform Labs co-founder Do Kwon is expected to plead guilty in a U.S. criminal case over the $40 billion collapse of the TerraUSD stablecoin in 2022.
Terraform Labs co-founder Do Kwon is set to appear in a New York courtroom on August 12 for a hearing that could see him change his plea in a US criminal case.
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