Do Kwon, co-founder of Terraform Labs, is set to stand trial in the US starting January 26, 2026, following his extradition from Montenegro. He faces eight criminal fraud charges linked to the 2022 collapse of the TerraUSD stablecoin and LUNA token, with a potential maximum sentence of 130 years in prison if convicted.
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January 14, 2025 | 02:39Do Kwon
8 posts last weekDo Kwon is the Korean founder of the failed algorithmic stablecoin project Terra/LUNA.
Key Developments in Terra Luna Classic and Their Impact on LUNC Price
Terra Luna Classic (LUNC) is undergoing significant upgrades, including alignment with the Cosmos ecosystem and enhancements to dApp development, while community-led burn campaigns have already eliminated 400 billion LUNC tokens. Despite these advancements, LUNC’s price has dropped 15% over the past week, trading at $0.0001016, amid ongoing legal challenges for Do Kwon that add market uncertainty. Upcoming governance votes and a mainnet upgrade scheduled for February aim to further improve network efficiency and security.
read moreGensler warns of crypto project failures amid regulatory challenges and legal battles
Outgoing SEC Chair Gary Gensler has warned that most cryptocurrency projects, including XRP, are likely to fail due to regulatory challenges and bad actors in the industry. He emphasized the need for stricter regulations on altcoins and intermediaries, while acknowledging the SEC’s efforts against firms like Ripple and Binance. As he prepares to leave, the SEC is set to file its opening brief in the ongoing SEC v Ripple case by January 15, marking a pivotal moment in the agency’s regulatory approach. [Bloomberg](https://www.bloomberg.com)
read moreGary Gensler Critiques Crypto Market as He Exits SEC Leadership
Outgoing SEC Chair Gary Gensler criticized the crypto market as “rife with bad actors,” asserting that many of the over 10,000 projects lack fundamentals and will not survive. He emphasized that while digital assets represent less than 1% of the $120 trillion US capital markets, they have demanded significant regulatory attention, with the SEC pursuing around 100 enforcement actions during his tenure. Gensler highlighted the volatility and sentiment-driven nature of the market, contrasting it with traditional investments. [Source](https://www.bloomberg.com)
read moreSolana’s Pump Science Launches Betting on Mouse Longevity Experiments
Solana’s Pump.science and Hedgehog Markets are launching decentralized betting contracts focused on scientific experiments with laboratory mice, aiming to enhance human life expectancy. Bettors can wager on the endurance of mice treated with life-extending compounds, with insights and video footage available to inform predictions. This initiative is part of the growing DeSci sector, valued over $2 billion, which seeks to innovate scientific funding and discovery. In a separate legal matter, Terraform Labs founder Do Kwon faces a lengthy criminal prosecution set for early 2026, with significant evidence challenges and a not-guilty plea to multiple charges related to the $60 billion collapse of Terra in 2022. A civil fraud lawsuit has already found Kwon guilty, resulting in a $4.5 billion fine for Terraform.
read moreInvestigators to Examine Do Kwon’s Personal Data in Terra Case
Investigators are set to examine Do Kwon’s personal emails, social media accounts, and electronic devices as part of the Terra case. The extensive
read moreUS Prosecutors Plan to Search Do Kwon’s Social Media and Emails
US prosecutors are set to search Do Kwon’s Twitter and email accounts as part of their criminal case against him, expecting to uncover “multiple terabytes of data.” Kwon faces nine felony charges, including a recently added money laundering conspiracy, following his extradition from Montenegro. This case parallels that of Sam Bankman-Fried, who was also extradited and faced a superseding indictment in the US.
read moreDo Kwon Faces Criminal Charges as Terra Collapse Affects Over One Million Victims
The collapse of the Terra crypto ecosystem in 2022 may have affected over 1 million victims, as alleged in recent court documents regarding founder Do Kwon’s case. Kwon, who pleaded not guilty to multiple U.S. criminal charges including fraud, is accused of misleading investors about the functionality of Terra’s products, leading to a $40 billion loss. Authorities claim that the UST stablecoin’s failure to maintain its dollar peg triggered the ecosystem’s rapid downfall.
read moreCrypto Legal Battles: Tornado Cash and Lido DAO Cases Impacting the Industry
The legal landscape for crypto is heating up, with significant cases like the Lido DAO lawsuit, which alleges the sale of unregistered securities, and the prosecution of Tornado Cash co-founder Roman Storm for money laundering. Both cases could redefine governance and privacy in decentralized finance. Meanwhile, Do Kwon faces fraud charges related to the collapse of Terraform Labs, marking a stark reminder of the industry’s tumultuous past.
read moreDo Kwon Faces Criminal Charges as Victim Count Exceeds One Million
Prosecutors estimate that Do Kwon, co-founder of Terraform Labs, may have over one million victims globally following the collapse of the Terra ecosystem. Kwon, who pleaded not guilty to nine felony charges, was extradited to the US and faces significant legal challenges, including a civil case where he and Terraform were found liable for fraud, agreeing to pay approximately $4.5 billion in penalties. He joins other high-profile crypto executives facing similar legal scrutiny.
read moreDo Kwon Pleads Not Guilty to Fraud Charges in US Court
Do Kwon, co-founder of Terraform Labs, has pleaded not guilty to nine fraud-related charges in a U.S. court, following his extradition from Montenegro. The charges stem from the $40 billion crash of Terra LUNA in 2022, which also contributed to the FTX collapse. Kwon, who has been on the run since the crash, faces serious allegations including money laundering and securities fraud.
read moreDo Kwon Pleads Not Guilty to Fraud Charges in TerraUSD Collapse
Do Kwon pleaded not guilty to multiple fraud charges in Manhattan related to the $40 billion collapse of TerraUSD and Luna. Accusations include misleading investors about the stability of TerraUSD, which was designed to maintain a $1 peg but required external intervention to do so. If convicted, Kwon faces over 100 years in prison, though actual sentences may be lower.
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