🚨 Today: Do Kwon faces judgment in the United States over the collapse of Terra/LUNA that wiped out $40 billion!
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⚖️ What is happening?
– Do Kwon, founder of Terraform Labs, stands before Judge Paul Engelmayer in Manhattan court for the final ruling
– Prosecutors are demanding a maximum of 12 years in prison, noting that the fraud led to losses exceeding those in FTX and Celsius combined
– The defense argues for a 5-year cap, claiming the collapse was partially due to external attacks, with Kwon admitting guilt in August 2025
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💡 Background of the collapse:
– In May 2022, the stablecoin UST and LUNA collapsed from a value of $50 billion to zero, destroying trust in algorithmic stablecoins
– Kwon promoted Terra as a "secure decentralized system," but concealed design risks, igniting the global "crypto winter"
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⚡ Why should you care?
– This ruling sets regulatory standards for fraud in crypto, which may protect investors but raises concerns about innovation
– LUNC and LUNA are reviving by 10% today, but real losses are not recoverable, reminding of the risks of leverage and unsupported stablecoins
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❓Do you think 12 years is fair for Kwon, or is 5 years enough to close the chapter on Terra?
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