Do Kwon, co-founder of Terraform Labs, has requested a five-year sentence from US authorities. This follows his plea deal for wire fraud and conspiracy charges related to the collapse of the Terra ecosystem, which cost investors $40 billion in 2022. Kwon’s legal team argues that a longer term would be excessive considering his prior time served and already agreed upon penalties. The US prosecutors, however, are seeking up to 12 years for his actions, but defense lawyers claim any sentence beyond five years is unwarranted. 40-year prison sentence awaits Kwon in South Korea. Following this court decision in the US, he’ll face trial on charges stemming from the same events in South Korea, where prosecutors aim for a maximum sentence of 40 years.