Do Kwon Expected to Plead Guilty in $40B TerraUSD Collapse Case

Terraform Labs co-founder Do Kwon is expected to change his plea and plead guilty in a U.S. criminal case concerning the $40 billion collapse of the TerraUSD stablecoin in 2022. U.S. District Judge Paul Engelmayer set a hearing on Tuesday where Kwon will detail how he broke the law if he admits guilt. Previously, Kwon pleaded not guilty but now faces several charges, including conspiracy to defraud, commodities and securities fraud, market manipulation, wire fraud, and conspiracy to commit money laundering.