Do Kwon’s plea change is expected to dramatically impact the ongoing $40 billion Terra collapse fraud case. Judge Paul Engelmayer has been notified of his upcoming shift and instructed him to submit a comprehensive defense narrative covering all aspects of the charges. The court filing, along with the impending shift, raises questions about the future of this high-profile case. The charges include securities fraud, wire fraud, commodities fraud, conspiracy to defraud, market manipulation, and money laundering conspiracy, all directly linked to the 2022 TerraUSD (UST) de-pegging and its subsequent impact on investors. Kwon’s potential plea change comes amidst heightened scrutiny of cryptocurrency cases. The U.S. Attorney General has been engaged in fruitful negotiations with Kwon’s defense team, leading to this significant development. The market reaction is largely muted, with LUNA prices showing a slight dip as traders await further developments.