Do Kwon, the troubled co-founder of Terraform Labs based in Singapore, is facing a possible 12-year prison sentence in the United States due to his role in the collapse of the TerraUSD stablecoin, which resulted in significant losses within the cryptocurrency market.

Do Kwon Seeks Reduced Sentence Of Five Years

Bloomberg reported that in a court filing late Thursday, US prosecutors described the Terraform Labs co-founder’s fraudulent actions as “colossal in scope.”

They emphasized that his “misleading statements to customers” triggered a domino effect of crises across the crypto landscape, culminating in the downfall of notable entities such as Sam Bankman-Fried’s FTX .

This comes amid a regulatory environment that has grown increasingly lenient under the Trump admini

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