{"content":"In 2025, the South Korean entrepreneur behind the collapse of two cryptocurrencies that wiped out an estimated $40 billion in 2022 pleaded guilty to two U.S. charges of conspiracy to defraud and wire fraud. Do Kwon, 33, co-founder of the Singapore-based Terraform Labs and developer of the TerraUSD and Luna tokens, entered his plea during a federal court hearing in New York. Earlier in January 2025, he had pleaded not guilty to a nine-count indictment that included securities fraud, wire fraud, commodities fraud, and money-laundering conspiracy.","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025082025/08/24/7dacef47a1ba47839dcbbdcd5157dab9.jpg"],"tags":[],"tradingPairs":["LUNA/USDT"],"quotearticleid":0}