Former crypto CEO admits to massive fraud

upi.com

Former Terraform CEO Do Kwon pleaded guilty to federal fraud charges for his role in a cryptocurrency scheme. Kwon admitted to conspiring to commit commodities, securities, and wire fraud, and committing wire fraud, related to Terraform Labs' stablecoin and token. The collapse of Terraform's UST and LUNA tokens resulted in over $40 billion in investor losses. Kwon faces sentencing in December.


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