Do Kwon requests that the US court sentence him to no more than five years in prison
On November 27, according to Bloomberg, Terraform Labs Pte. co-founder Do Kwon stated that he has requested a U.S. court to sentence him to no more than five years in prison for his involvement in the $40 billion TerraUSD stablecoin collapse-related fraud case in 2022. In August, Kwon pleaded guilty to conspiracy and wire fraud charges, thereby avoiding a trial. He was previously arrested in Montenegro and convicted for using a fake passport as a fugitive wanted by South Korea, and was subsequently extradited to the United States.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Kratos Defense EVP, CFO Deanna H. Lund sells USD 341,999.11 in common shares
The US Treasury repurchases $6 billion in ultra-long-term bonds: three times the amount planned for early August, with the 30-year yield still reaching its highest level since 2007.
The United States will repurchase up to $6 billion worth of long-term government bonds.
Warning of AI credit risk, Moody's: The off-balance sheet commitments of the five major US giants have increased eightfold in three years, soaring to $2.8 trillion.
According to a report by Moody’s Ratings, the five companies Amazon, Microsoft, Google, Meta, and Oracle collectively bear about $2.8 trillion in off-balance-sheet obligations related to AI. Among these, lease commitments exceed $1 trillion, purchase commitments total $1.57 trillion, and guarantees amount to $137 billion. This figure represents explosive growth compared to $350 billion in 2023. Moody’s analysts noted that the pace of growth for these commitments is even more noteworthy.
Crypto prices
More
