Do Kwon, former CEO of Terraform Labs, now faces an unprecedented legal battle following the devastating collapse of his cryptocurrency project, Terra-Luna. While pleading guilty to fraud charges related to the $40 billion loss suffered by investors, Kwon seeks a more lenient five-year prison sentence. His legal team argues that various factors should mitigate this penalty, including a lack of personal enrichment motive, a major strategic error in not disclosing a deal with Jump Trading intended to stabilize UST during its initial instability, and his early guilty plea as an act of judicial cooperation. They also emphasize the complex context surrounding the collapse’s multifaceted nature, suggesting it can’t be attributed solely to Kwon’s actions. This request comes ahead of his sentencing on December 11th.