Do Kwon Pleads Guilty: Two Federal Charges in Terraform Collapse Case

Do Kwon, co-founder of Terraform Labs, has accepted responsibility for two federal charges — wire fraud and conspiracy to defraud — in the ongoing investigation related to the collapse of the Terra ecosystem. His plea marks a shift from his earlier not guilty stance on all nine charges brought by US prosecutors. Under the agreed-upon deal, Kwon will pay $19 million in penalties, with sentencing scheduled for December 11th in New York.