Former crypto CEO Do Kwon has pleaded guilty to federal charges related to financial fraud that cost victims billions of dollars.

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Do Hyeong Kwon pleaded guilty Tuesday to a conspiracy to defraud and wire fraud.

NEW YORK – Terraform Labs co-founder Do Kwon may plead guilty in a US criminal fraud case tied to the US$40 billion (S$51.4 billion) collapse of the TerraUSD stablecoin in 2022.