Do Kwon Faces 12-Year Prison Term for $40B TerraUSD Fraud

Federal prosecutors have requested a 12-year prison sentence for Terraform Labs co-founder Do Kwon following his guilty plea to orchestrating the TerraUSD collapse that wiped out $40 billion in market value. Kwon admitted to defrauding investors and concealing Jump Trading's role in supporting the stablecoin. His defense team is seeking a reduced five-year term, citing nearly three years already spent in detention in Montenegro. Sentencing is scheduled for December 11.