Do Kwon May Plead Guilty Over $40 Billion Terra Collapse (2)

Terraform Labs Pte. co-founder Do Kwon may plead guilty in a US fraud case tied to the $40 billion collapse of the TerraUSD stablecoin in 2022.

US District Judge Paul Engelmayer in New York scheduled a change of plea hearing for Tuesday. The judge said in an order Monday that Kwon should be ready to explain how he violated the law if he pleads guilty.

Kwon, 33, pleaded not guilty in January following a two-year extradition battle over whether he would first face prosecution in the US or his native South Korea. A call to Kwon’s lawyer was not immediately ...