Do Kwon, co-founder of Terraform Labs, received a 15-year prison sentence for fraud that led to a $50 billion loss in the crypto market. The judge highlighted Kwon's deceitful actions and the extensive impact on victims while rejecting the defense’s plea for a lighter sentence. Kwon admitted his guilt and expressed remorse during the hearing.

Do Kwon, co-founder of Terraform, is expected to plead guilty to multiple charges, including fraud and money laundering, as a court conference has been scheduled. The charges stem from the collapse of the algorithmic stablecoin Terra USD in 2022, which resulted in significant financial losses. Kwon had previously pleaded not guilty to the allegations.