Terraform Labs Founder Do Kwon to Receive Sentence in New York on December 11

TechFlow

Release Time:12/11/2025 12:36:28

Terraform Labs founder Do Kwon will be sentenced on December 11 in a Manhattan court. The 33-year-old South Korean entrepreneur pleaded guilty in August to multiple fraud charges. The TerraLUNA/UST collapse in 2022 wiped out up to $40 billion in investor funds. Prosecutors asked for 12 years, while the defense sought five. Kwon was arrested in Montenegro in March 2023 and extradited in December 2024. He will forfeit $19.3 million and some assets. On-chain data shows ongoing interest in altcoins to watch amid market uncertainty.

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