Do Kwon — the South Korean crypto entrepreneur behind the $40 billion collapse of TerraUSD and LUNA — has pleaded guilty in a New York court to conspiracy to defraud and wire fraud. The Terraform Labs co-founder admitted to misleading investors during the 2021 crash of his so-called ‘stablecoin,’ concealing a trading firm’s secret intervention to restore its $1 peg. Prosecutors said the scheme fuelled massive investor losses and drove Luna’s value to $50 billion before its collapse in 2022. Kwon
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Do Kwon — the South Korean crypto entrepreneur behind the $4…
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