💥 Do Kwon, founder #LUNA /#Terra , pleads guilty
Do Kwon admitted to fraud charges after the collapse of the Terra/Luna project, which caused losses exceeding $40 billion for investors.
Charges: Financial and electronic fraud.
Potential penalty: Up to 12 years in prison, with assets worth $19 million confiscated.
Impact: A step that could lead to tighter regulation of stablecoins globally, and the entry of the crypto market into a new regulatory phase
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