Terraform Labs Co-Founder Do Kwon Sentenced to 15 Years

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in prison after pleading guilty to fraud conspiracy charges related to the May 2022 collapse of the TerraUSD stablecoin, which erased about $40 billion in value, Cointelegraph reported. The collapse, described as one of the largest failures in the cryptocurrency sector, led to significant investor losses and multiple legal actions. According to the report, the sentence follows a multi-year investigation into the failure of the algorithmic stablecoin and associated products.