Bitcoin24h $79,786.86+0.01%

Ethereum24h $2,476.84+0.89%

BNB24h $771.77+7.22%

XRP24h $1.42+1.20%

Solana24h $103.32+1.58%

TRON24h $0.3341+0.78%

Hyperliquid24h $85.38+0.70%

Zcash24h $1,010.39-2.36%

Dogecoin24h $0.0909+7.24%

Monero24h $543.61+1.93%

Do Kwon sentenced to 15 years for Terra/Luna fraud

Terraform Labs founder Do Kwon has been handed 15 years in prison for his role in the $40B collapse of the Terra/Luna ecosystem.

US wants Do Kwon in jail for no less than 12 years

The US countered Do Kwon’s request for a five-year sentence by demanding 12 years prison time for the collapse of Terraform Labs.

Do Kwon has pleaded guilty to conspiracy to defraud and wire fraud in relation to the $40B collapse of Terraform Labs.

Both parties have already delayed the pre-trial motion submission date twice and have now asked a judge to grant another two-week extension.

Do Kwon’s lawyers hinted at altering a money laundering charge while they continue to hold “productive” talks with US prosecutors.