JOURNAL ARTICLE

Do Kwon May Plead Guilty in US Case Over $40 Billion Terraform Collapse.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Van Voris, Bob 3 of 3

Abstract

The article focuses on Do Kwon, co-founder of Terraform Labs Pte., who may plead guilty in a U.S. fraud case related to the $40 billion collapse of the TerraUSD stablecoin in 2022. A change of plea hearing has been scheduled, where Kwon will need to explain his legal violations if he pleads guilty. He had previously pleaded not guilty after a lengthy extradition battle between the U.S. and South Korea. Kwon and Terraform were found liable for civil fraud by the U.S. Securities and Exchange Commission, leading to a settlement requiring them to pay $4.47 billion and wind down the business to pay creditors. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/08, pN.PAG
  • Document Type:Article
  • Subject Area:Social Sciences and Humanities
  • Publication Date:2025
  • Accession Number:187263337
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