'Cryptocrash king' Do Kwon pleads guilty to fraud

Singapore-based Terraform Labs boss Do Kwon, known as the 'Cryptocrash king,' pleaded guilty in New York court to fraud charges related to the collapse of cryptocurrencies TerraUSD and Luna, leading to significant market losses. Prosecutors have agreed to limit the sentence to a maximum of 12 years, with sentencing scheduled for December. Kwon's plea followed a complex legal battle and a period of evasion before being arrested in Montenegro and extradited to the US. The case highlights the risks and consequences associated with fraudulent practices in the crypto industry.