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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
🆘 #Gate 2025 Semi-Year Community Gala# | Square Content Creator TOP 10
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Do Kwon Pleads Guilty to Two Counts of Fraud - Unchained
Terraform Labs co-founder Do Kwon has pleaded guilty to two counts of fraud — one for conspiracy to commit commodities, securities, and wire fraud, and another for wire fraud related to schemes at Terraform.
As part of the plea deal, Kwon has agreed to forfeit over $19 million in earnings from his crypto activities and his interest in Terraform Labs and associated tokens.
This story is an excerpt from the Unchained Daily newsletter.
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“Kwon’s plea represents an important milestone in this Office’s continuing efforts to bring integrity and accountability to the digital asset markets, said U.S. Attorney Jay Clayton.
The maximum possible prison sentence for the charges in question is 25 years, but under the terms of the plea agreement, prosecutors will not recommend a sentence above 12 years if Kwon complies with the conditions.
Kwon’s sentencing hearing has been set for Dec. 11