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Do Kwon requests the U.S. court to impose no more than five years in prison.
[Do Kwon requests US court to impose no more than five years in prison] On November 27, according to Bloomberg, Do Kwon, co-founder of Terraform Labs Pte., stated that he requested the US court to impose no more than five years in prison due to his involvement in the fraud case related to the collapse of the TerraUSD stablecoin, valued at $40 billion in 2022. Kwon pleaded guilty to conspiracy and wire fraud charges in August, thus avoiding trial. He was previously arrested in Montenegro and convicted for using a fake passport as a fugitive from South Korean charges, and was subsequently extradited to the US.