Do Kwon: Sentences for involvement in the TerraUSD stablecoin collapse fraud should not exceed five years.

On November 27, according to Bloomberg, Terraform Labs Pte. co-founder Do Kwon stated that his sentence in the United States for his involvement in the $40 billion TerraUSD stablecoin collapse fraud case in 2022 should not exceed five years. Kwon pleaded guilty to conspiracy and wire fraud charges in August, thereby avoiding a trial. He was previously arrested in Montenegro and convicted for using a fake passport as a fugitive wanted by South Korea, and was subsequently extradited to the United States.