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Do Kwon’s Guilty Plea: Terraform Founder Admits to Conspiracy & Wire Fraud in UST Collapse
Do Kwon’s Guilty Plea: Terraform Founder Admits to Conspiracy & Wire Fraud in UST Collapse
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Terraform Labs' co-founder Do Kwon just dropped the mic—and his freedom—with a guilty plea for conspiracy and wire fraud. The architect of the $40B UST implosion finally faces the music.
From 'algorithmic stablecoin' to 'alleged scamcoin'
Once hailed as crypto's golden boy, Kwon's empire crumbled when UST depegged in May 2022. Turns out 'stable' was more suggestion than guarantee—unless you count stable handcuffs.
The reckoning arrives
Prosecutors allege Kwon misled investors about Terra's stability while secretly cashing out. His plea deal suggests someone finally read the 'this is not financial advice' disclaimers... backwards.
Another crypto cautionary tale—but don't worry, the next 'can't fail' project launches in 3...2...
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