U.S. Calls for 12-12 months Jail Time period for Do Kwon After $40B Terra Crash Shook Crypto Markets

Key Takeaways:

U.S. prosecutors are asking a New York decide to condemn Terraform Labs founder Do Kwon to 12 years in jail for orchestrating a multi-year crypto fraud.The collapse of TerraUSD (UST) and LUNA worn out over $40 billion in worth and helped ignite the 2022 “crypto winter.”Prosecutors say Kwon’s lies about decentralization, stability, and real-world adoption put him in a league past Sam Bankman-Fried and different main crypto fraudsters.