South Korean crypto mogul Do Kwon pleads guilty to fraud | Crypto

Cryptocurrency entrepreneur faces up to 25 years in prison over the $40bn collapse of the TerraUSD and Luna tokens.

South Korean cryptocurrency mogul Do Kwon has pleaded guilty to fraud in the United States in a case tied to the $40bn collapse of the TerraUSD and Luna tokens.

Kwon, the cofounder of Singapore-based Terraform Labs, entered the plea at the Southern District of New York on Tuesday, according to court filings.

Kwon admitted to one count of conspiring to commit commodities fraud,…