Terraform Labs, one of the founding partners of Terraform Labs, will accept two separate charges in the United States. The judicial process continued by the US Regional Judge Paul Engelmayer at a court hearing in Manhattan.
Terra case
It was stated that the US Justice System’s approach to the issue became clear, during the hearing of Do Kwon, information that the prosecutor’s office agreed to accept the accusations. These accusations include two different titles, including fraud. Kwon’s adoption of his crime led to the possible imprisonment in the subsequent stages of the trial process.
The collapse of Terrausd and Luna projects caused serious damage to the crypto asset market. The indirect loss of $ 40 billion direct loss was much larger. While this event directly affected many investors, it has led to discussions in regulation in different countries.
According to experts’ evaluations, the collapse of Terrausd and Luna caused a lack of confidence in the crypto asset market. It was discussed whether the existing regulations were sufficient and US officials evaluated the incident within the scope of the fight against financial crimes. Such cases are important in terms of strengthening the perception of transparency and trust in crypto projects. However, the hatred of crypto money in those days later has just broken. In this respect, Kwon’s damage to the markets is absolutely great.
According to the court records, Do Kwon’s cooperation with the US judicial authorities will contribute to the faster progress of the trial process.
US Regional Judge Paul Engelmayer said, “The defendant Do Kwon has accepted two charges in court.”
In his defense, Do Kwon said, orum I regret the misleading Terrausd investors ..
Effects on investors and crypto sector
Following the collapse of Terrausd and Luna, there are individuals and institutions that suffered serious damage. However, Terra will not have any loss compensation because it does not have a significant amount of existence. Kwon’s sentence is expected to be returned to South Korea after 6 years in the United States.
If we look at the full side of the glass, the collapse of the democrats, which fueled the hatred of crypto money, enabled Trump to collect votes in favor of the crypto. Trump’s attitude change, which has turned the hatred of politicians into an opportunity, did not only give him elections. It also gave billions of dollars of earnings with crypto currency investments. Moreover, the constructive regulation process for crypto currencies began after Trump won the elections. In other words, Do Kwon and SBF did such things that Trump triggered a great boomer anger that the elections of taking positions in favor of the crypto would win him.
As a result, Do Kwon’s acceptance of charges and abandoning the defense during the lawsuit process points to the end of another period. Directly 40 billion dollars, one hundreds of billions of dollars in the indirect road from investors will be sentenced to Kwon. However, in the future we will continue to see other KWons and SBFs. Therefore, such as 20 %APY of Ust, long -term long -term ponzas should no longer live in the crypto.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
