Cryptocurrency mogul Do Kwon was sentenced on Thursday to 15 years in prison for misleading investors who lost billions when his company’s crypto ecosystem collapsed in 2022.
Kwon’s sentencing by a federal judge in New York comes after he pleaded guilty in August to fraud charges stemming from Terraform Labs’ US$40 billion cryptocurrency crash.
The company had touted its TerraUSD as a reliable “stablecoin” – a kind of currency typically pegged to stable assets to prevent drastic fluctuations in…
Kwon’s sentencing by a federal judge in New York comes after he pleaded guilty in August to fraud charges stemming from Terraform Labs’ US$40 billion cryptocurrency crash.
The company had touted its TerraUSD as a reliable “stablecoin” – a kind of currency typically pegged to stable assets to prevent drastic fluctuations in…
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