TERRA'S DO KWON SENTENCED TO 15 YEARS IN PRISON

Summary from the TLDR Crypto newsletter

Do Kwon received a 15-year prison sentence for his role in Terra's $50 billion collapse, exceeding prosecutors' 12-year request and tripling the defense's five-year proposal, which the judge called "utterly unthinkable and wildly unreasonable." District Judge Paul Engelmeyer cited the "eye-popping" magnitude of the crime, which affected hundreds of victims, Kwon's flight to Serbia and Montenegro on false passports, and "despicable" conduct during UST's de-peg advising retail to stay invested while insiders exited positions, with Kwon's trollish Twitter presence particularly galling to the judge. Kwon pleaded guilty in August to conspiracy and wire fraud after extradition in Montenegro, reducing the original nine-count indictment, which carried 135 years maximum, to two counts. He must serve at least half his sentence before applying for a South Korea transfer, where additional charges await.