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Do Kwon Admits Guilt in Terraform Collapse: UST Fraud Case Rocks Crypto World
Do Kwon Admits Guilt in Terraform Collapse: UST Fraud Case Rocks Crypto World
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Terraform Labs founder Do Kwon has pleaded guilty to conspiracy and wire fraud charges tied to the catastrophic implosion of the UST stablecoin—adding another chapter to crypto’s hall of infamy.
The once-celebrated ‘algorithmic stablecoin’ pioneer now faces the music as regulators tighten the screws. A brutal reminder that when yields look too good to be true, they usually are.
Wall Street’s old guard will be smirking into their martinis tonight—another ‘disruptor’ brought down by the very rules they tried to bypass.
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