# Do Kwon Related Articles

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On the Eve of Do Kwon's Trial, $1.8 Billion Is Betting on His Sentence

Summary: On the eve of Do Kwon's final sentencing hearing, LUNA and LUNA2 contracts recorded a staggering $1.8 billion in trading volume despite having no fundamental value. The market is speculating on the outcome of the trial, with extreme divergence between short and long positions. Prosecutors are seeking a 12-year sentence, while the defense argues for 5 years. This legal event has turned LUNA into a speculative instrument, detached from its original utility, highlighting how crypto markets efficiently price even events like judicial outcomes and human freedom. Regardless of the verdict, LUNA's volatility is expected to collapse post-hearing as the event-driven speculation concludes.

深潮2 days ago 12:44

On the Eve of Do Kwon's Trial, $1.8 Billion Is Betting on His Sentence

深潮2 days ago 12:44

Crypto Market Prices the Verdict: $1.8 Billion Bet on Do Kwon's Sentencing Outcome

The cryptocurrency market is witnessing an extraordinary $1.8 billion in futures trading volume for LUNA and LUNA2 tokens, despite their lack of fundamental value. This surge in speculative activity is directly tied to the upcoming sentencing hearing of Terraform Labs co-founder Do Kwon in a New York federal court on December 11th. Prosecutors are seeking a 12-year prison sentence for Kwon’s role in the $40 billion Terra-LUNA collapse, while his defense team is arguing for a 5-year term. This 7-year discrepancy has created a high-stakes betting environment. The market is characterized by extreme divergence, with a high volume of short positions (indicated by negative funding rates) and a powerful counter-force of buyers attempting to squeeze those shorts. The article argues that the current LUNA traders are not the original victims of the crash but are now primarily event-driven speculators, quantitative funds, and opportunistic traders. For them, LUNA has been transformed from a failed project into a pure "legal derivative," a volatile instrument whose price is entirely driven by the legal outcome of Kwon's case, devoid of any fundamental anchor. The author concludes that regardless of the sentencing outcome—whether a harsh or light sentence—the event's conclusion will likely cause LUNA's price to collapse. A harsh sentence would reaffirm its zero fundamental value, while a light sentence would trigger a "sell the news" event. This situation exemplifies the crypto market's cold, hyper-efficient ability to price and monetize anything, including justice and a person's freedom, reducing moral judgment to mere noise against the pursuit of volatility and profit.

比推Yesterday 14:17

Crypto Market Prices the Verdict: $1.8 Billion Bet on Do Kwon's Sentencing Outcome

比推Yesterday 14:17

Terraform co-founder sentenced to 15 years in prison after guilty plea

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in prison by a U.S. court after pleading guilty to wire fraud and conspiracy. The collapse of Terraform in 2022 wiped out an estimated $40 billion from the crypto market. Judge Paul Engelmayer called the fraud "unusually serious," stating that Kwon "publicly lied to the market" for years. Kwon expressed remorse and requested to serve his sentence in South Korea, where he may face additional charges and up to 40 more years in prison. Approximately 16,500 victims were affected, with several testifying about severe financial losses during the sentencing. Kwon is the latest high-profile crypto executive to be convicted, following cases like FTX's Sam Bankman-Fried and Celsius' Alex Mashinsky.

cointelegraph15h ago

Terraform co-founder sentenced to 15 years in prison after guilty plea

cointelegraph15h ago

Do Kwon Sentenced to 15 Years in Prison, Crypto's Prison All-Stars Welcome Another Heavyweight Guest

Do Kwon, co-founder of Terraform Labs, has been sentenced to 15 years in prison by a U.S. federal court. The ruling follows his extradition from Montenegro and guilty plea to charges of conspiracy fraud and wire fraud. Kwon was the mastermind behind Terra (LUNA) and its algorithmic stablecoin UST, which collapsed dramatically in May 2022, erasing tens of billions in market value and triggering a prolonged crypto market downturn. The failure of Terra’s “algorithmic” mechanism—which lacked sufficient collateral—led to widespread investor losses, with reports of tragic outcomes including suicides. After the collapse, Kwon fled South Korea and evaded international authorities using forged documents before eventually being captured in Montenegro in March 2023. He was later extradited to the U.S. in late 2024. Prosecutors had sought a 12-year sentence, while Kwon’s defense argued for five years. The judge, however, imposed a stricter sentence, citing the unprecedented scale of fraud, Kwon’s attempt to evade justice, and the need for deterrence. Kwon now joins other high-profile convicted crypto figures like SBF and Alex Mashinsky, marking a symbolic end to an era of reckless expansion and fraud in the industry.

Odaily星球日报12h ago

Do Kwon Sentenced to 15 Years in Prison, Crypto's Prison All-Stars Welcome Another Heavyweight Guest

Odaily星球日报12h ago

Mars Daily | Terra Founder Do Kwon Sentenced to 15 Years by US Federal Judge; FTX Redeems 195,000 SOL

Mars News Summary: Terraform Labs founder Do Kwon has been sentenced to 15 years in prison by a U.S. federal judge for fraud related to the collapse of Terra and Luna tokens. The sentence exceeds the initial prosecution request of 12 years. Separately, FTX/Alameda redeemed 194,800 SOL from staking and distributed them to 26 addresses, likely for transfer to major exchanges. In other developments, Coinbase plans to announce prediction markets and tokenized stock products on December 17. Ethereum spot ETFs show signs of recovery with mild inflows, and U.S. senators are making progress on comprehensive crypto market legislation after meetings with bank executives. Additionally, the CFTC revoked a 2020 guidance on digital asset "actual delivery," and Binance deepened its partnership with the Trump-affiliated USD1 stablecoin.

marsbit12h ago

Mars Daily | Terra Founder Do Kwon Sentenced to 15 Years by US Federal Judge; FTX Redeems 195,000 SOL

marsbit12h ago

Crypto Morning Brief: US Initial Jobless Claims Surge, Do Kwon Sentenced to 15 Years in Prison

Crypto Morning Brief: U.S. initial jobless claims surged to 236,000, exceeding expectations. Terraform Labs founder Do Kwon was sentenced to 15 years in prison for fraud related to the $40 billion Terra-Luna collapse. In other news, the SEC's crypto working group will hold a roundtable on financial regulation and privacy. Former President Trump launched a "Gold Card" program offering legal residency for investments. Coinbase expanded DEX support to all Solana tokens, enabling trading without traditional listing. Ant International highlighted AI and blockchain's role in transforming global payments. Meanwhile, RWA tokenization services faced a sharp decline in interest from mainland Chinese companies following a regulatory warning. Additional updates include e& piloting a dirham stablecoin and Jupiter Exchange acquiring RainFi to develop Solana's credit markets.

深潮11h ago

Crypto Morning Brief: US Initial Jobless Claims Surge, Do Kwon Sentenced to 15 Years in Prison

深潮11h ago

Terraform Co-Founder Receives 15-Years Prison Sentence

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in prison after pleading guilty to wire fraud and conspiracy. His criminal actions were central to the 2022 crypto market crash, which erased nearly $40 billion in market value. The judge considered victim impact statements, including one individual who became homeless after losing $81,000. The sentence was deemed necessary due to the severity and deliberate nature of the fraud. Kwon expressed remorse and may serve part of his sentence in South Korea, where he could face additional charges. His case is compared to other high-profile crypto fraud sentences.

TheNewsCrypto6h ago

Terraform Co-Founder Receives 15-Years Prison Sentence

TheNewsCrypto6h ago

Trial 1314 Days Late: Mastermind Behind $40 Billion Stablecoin Collapse Sentenced to 15 Years

The trial of Do Kwon, the mastermind behind the $40 billion Terra (LUNA) and UST stablecoin collapse, concluded on December 11, 2025, with a 15-year prison sentence. After 1,314 days since the catastrophic crash, Kwon was convicted of orchestrating an "epic, generational-scale fraud" that wiped out life savings for over a million victims and triggered a crypto market crisis, including the fall of FTX. Despite his defense pleading for a five-year term, citing arrogance rather than greed as motive, the judge dismissed it as absurd and deemed the prosecution’s recommended 12 years too lenient. Kwon, who had initially pleaded not guilty, eventually admitted to two counts of conspiracy and wire fraud in August, agreeing to forfeit over $19 million in assets. Victim impact statements revealed devastating losses—homes, retirement funds, and education savings vanished. Many described being misled by Kwon’s false assurances and cult-like influence. In a rare apology, Kwon expressed remorse, acknowledging his "arrogance" and the pain he caused. He may serve half his sentence in the U.S. before potential transfer to South Korea, where he faces additional charges.

marsbit6h ago

Trial 1314 Days Late: Mastermind Behind $40 Billion Stablecoin Collapse Sentenced to 15 Years

marsbit6h ago

Do Kwon Sentenced to 15 Years in Prison for $40 Billion Terra Crypto Project Collapse

Do Kwon, co-founder of Terraform Labs, has been sentenced to 15 years in prison in the United States for fraud related to the 2022 collapse of the TerraUSD (UST) and LUNA tokens. The crash of the Terra ecosystem, which he developed, resulted in an estimated $40-60 billion in losses for the crypto community, stemming from both the token devaluation and the failure of associated services like Anchor. Kwon, who initially blamed the collapse on actions by third-party traders, faced nine charges including fraud, market manipulation, and money laundering. After his 2024 arrest in Montenegro with fake travel documents, he was extradited to the U.S. and later pleaded guilty to two charges. While prosecutors sought a 12-year sentence and his defense argued for five, the judge deemed the defense's request "utterly unreasonable." The judge emphasized the "staggering" scale of the fraud, the number of victims, and Kwon's attempts to flee justice. He also condemned Kwon's "despicable" behavior for publicly advising retail investors to keep investing while he and his associates privately withdrew their funds. Kwon's sentence will be reduced by the 17 months he already served in a Montenegrin prison. He may also be eligible for transfer to South Korea after serving half of his term and faces potential asset forfeiture of $19 million.

RBK-crypto4h ago

Do Kwon Sentenced to 15 Years in Prison for $40 Billion Terra Crypto Project Collapse

RBK-crypto4h ago

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