NEW YORK (Reuters) -Do Kwon, the South Korean cryptocurrency entrepreneur facing U.S. fraud charges over two digital currencies that lost an estimated $40 billion in 2022, is expected to enter a guilty plea, court records showed on Monday.

In a brief scheduling order, U.S. District Judge Paul Engelmayer said he had been advised that Kwon may change his plea and set a hearing for Tuesday at 10:30 a.m. EDT (1430 GMT) in Manhattan federal court.

Kwon, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, had previously pleaded not guilty to a nine-count indictment charging him with securities fraud, wire fraud, commodities fraud and money laundering conspiracy.

Neither lawyers for Kwon nor the Manhattan U.S. Attorney’s office, which brought the charg

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