Do Kwon pleads guilty in Manhattan to two counts of fraud

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Do Kwon, the South Korean founder of Terraform Labs, has pleaded guilty in the United States to two counts of fraud tied to the $40 billion collapse of TerraUSD and Luna, according to court proceedings in Manhattan on Tuesday. The 33-year-old reversed the not-guilty plea he entered in December after being extradited from Montenegro. His courtroom admission marks a major turn in a case that has followed him since the 2022 crash of his crypto empire. Kwon, who co-founded Terraform Labs before its ...