Do Kwon Expected To Plead Guilty: TerraUSD Collapse Case Takes Major Turn

Crypto pioneer Do Kwon, co-founder of Terraform Labs, is expected to change his plea from not guilty to guilty in a Manhattan federal court on Tuesday. The shift comes after a year-long extradition battle and a $40 billion collapse of the TerraUSD algorithmic stablecoin in 2022. The case has major implications for international crypto enforcement as Kwon faces charges for securities fraud, wire fraud, and money laundering conspiracy. A guilty plea could settle U.S. proceedings and influence his separate trial in South Korea, potentially setting a precedent for cross-border regulatory frameworks.