Terraform Labs' Founder Do Kwon Sentenced to 15 Years in Prison Amid UST Stablecoin Collapse

Do Kwon, founder of Terraform Labs, which offered the algorithmic stablecoin TerraUSD (UST), was sentenced to 15 years in prison by the U.S. Federal District Court on the 11th. According to Inner City Press, Judge Engelmayer of the Southern District of New York Court stated during the sentencing, 'Five years is completely out of the question. Even twelve years might not be enough. The fraudulent actions you admitted to have inflicted over $40 billion (approximately 6 trillion yen) in damages on the victims. This is an astonishing amount.' Furthermore, regarding UST's maintenance of its peg to the US dollar...