🔥 Do Kwon sentencing update (Terra/Luna crash)

Who: Do Kwon, ex-CEO and co-founder of Terraform Labs — the team behind TerraUSD (UST) and LUNA.

What happened: He pleaded guilty in U.S. court to fraud, admitting he misled investors about the stability and reliability of TerraUSD, which collapsed in 2022 and wiped out about $40 billion in market value.

Sentencing: Prosecutors are seeking a 12-year prison term, though his lawyers argue for ~5 years, citing time already served and his guilty plea.

Plea deal: He has agreed to forfeit over $19 million as part of the agreement.

Why it matters: It’s one of the more high-profile crypto fraud cases, signaling tougher legal consequences for major collapses in the space.

If you want a quick TL;DR with price/share impact or community reaction, I can add that too!