So, Terraform Labs co-founder Do Kwon is gonna plead guilty. Conspiracy, wire fraud, the whole shebang! $40 billion evaporated and now the guy finally says, “Alright, you got me.” I mean, what took him so long? You lose billions and decide to plead guilty-it’s like showing up to a dinner party after dessert. 🍰
Do Kwon, the genius behind Terraform Labs (I say genius loosely), is ready to admit to two lovely criminal charges: conspiracy to defraud and wire fraud-because why settle for one? This whole thing started in 2022, when his terrausd (UST) and luna (LUNA) cryptocurrencies crashed and sent $40 billion on a one-way trip outta here. Let’s be honest, I’ve lost my wallet before, but $40 billion? That’s next level.
The guy from Korea, Kwon, originally said, “Not guilty!” Like, sure buddy, maybe the dog ate the crypto? It was a nine-count indictment. Securities fraud, wire fraud, commodities fraud, money laundering-honestly, it sounds like one of those game shows where you don’t want to win. Prosecutors claim Kwon fooled investors with talk about some “algorithm” keeping UST’s $1 peg rock steady. Meanwhile, he’s behind the scenes, buying tokens like it’s Black Friday. You inflate token prices and watch LUNA fly up to $50 billion. I’ve seen better smoke and mirrors in a kid’s magic show. 🎩✨
So what’s the grand finale? An $80 million fine-just a little slap on the wrist! Plus, he gets banned from crypto dealings. That’s right, no more trading, no more tokens, just a lifetime supply of “what could’ve been.” Honestly, after a $40 billion disaster, an $80 million fine is barely a parking ticket in crypto world! 😂
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2025-08-12 19:29