On December 11th, according to Decrypt, Terraform Labs founder Do Kwon will face sentencing in a Manhattan court. The 33-year-old South Korean entrepreneur pleaded guilty in August this year to charges including commodity fraud, securities fraud, and telecommunications fraud. In 2022, the TerraLUNA/UST ecosystem created by Do Kwon collapsed, causing investors losses of up to $40 billion and severely impacting the entire cryptocurrency market. Prosecutors have recommended a 12-year prison sentence, while the defense has requested to limit the sentence to within 5 years. Do Kwon had fled multiple countries, was arrested in Montenegro in March 2023, and was extradited to the United States in December 2024. As part of his plea agreement, he will also forfeit $19.3 million and some assets, and may face additional charges in South Korea.