Do Kwon, Crypto Founder Who Caused 2022 Market Crash, Pleads Guilty to Fraud
Do Kwon, the founder of the Luna and TerraUSD cryptocurrencies, has pleaded guilty to two counts of fraud. This comes after the collapse of his projects in 2022, which contributed to a broader market crash in the cryptocurrency industry. Kwon's cryptocurrencies, which were once among the most popular in the market, experienced a dramatic downfall, wiping out billions of dollars in investor funds. The collapse of the Luna and TerraUSD tokens was a significant event in the 2022 cryptocurrency market downturn, leading to widespread scrutiny and criticism of Kwon's actions. By pleading guilty, Kwon has accepted responsibility for his role in the fraudulent activities that led to the collapse of his projects. The plea deal marks the end of a high-profile case that has had a profound impact on the cryptocurrency industry and the trust of investors in the market.
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