👏👨⚖️👏The sentence exceeds the prosecutors' request; the judge states that Kwon “chose to lie” and “made a bad choice” 🥳👨⚖️🥳$LUNA 🥳$USTC
The founder of Terraform Labs, Do Kwon, was sentenced to 15 years in prison for the collapse of the Terra-Luna ecosystem, which destroyed over $40 billion in market value and triggered one of the largest crises in the history of cryptocurrencies.
The sentence was handed down on Thursday in the Southern District Court of New York, according to reports from Inner City Press, which covered the trial. The imposed sentence even exceeds the prosecutors' request, who had recommended 12 years in prison.
🔍 What prosecutors and defense said
Prosecutors argued that Do Kwon:
• committed fraud on an extraordinary scale,
• demonstrated continued misconduct,
• and caused massive financial harm to investors around the world.
The defense, on the other hand, had requested a lighter sentence — only five years — arguing that Kwon did not pose a continuing risk and partially cooperated with the Justice.
⚖️ Harsh statement from the judge
District Judge Paul Engelmayer rejected the defense's request and stated in court that Do Kwon:
“chose to lie”
“chose poorly”
These words reinforce the court's view that Kwon acted with intention and gross negligence, directly contributing to the systemic collapse of 2022.
