Terraform Labs founder Do Kwon faces US charges in $40 billion crypto fraud: Report
South Korean cryptocurrency entrepreneur Do Kwon is reportedly facing fraud charges in the US. According to news agency Reuters, Kwon has been charged over two digital currencies that lost an estimated $40 billion in 2022. Citing court records, the report states that the crypto tycoon is expected to enter a guilty plea.Kwon co-founded Singapore-based Terraform Labs and created the TerraUSD and Luna cryptocurrencies. As per the report, he had earlier pleaded not guilty to nine charges, including securities fraud, wire fraud, commodities fraud, and conspiracy to launder money.In a short scheduling order, U.S. District Judge Paul Engelmayer said he had been informed that Kwon may change his plea. He set a hearing for Tuesday at 10:30…
