Do Kwon Expected to Alter Plea in Criminal Case at Upcoming Tuesday Hearing

Do Kwon, the founder of Terraform Labs facing fraud charges, is anticipated to change his plea in a significant criminal case during a scheduled hearing on Tuesday. This case stems from the collapse of the stablecoin TerraUSD and its sister cryptocurrency Luna, leading to massive financial losses for investors globally. Kwon had initially pleaded not guilty, but he is now expected to plead guilty to certain charges as part of a deal with prosecutors. This development marks a substantial shift in the ongoing legal proceedings against Kwon, which have also involved extradition battles with both the United States and South Korea. The full details of the plea change and the terms of any potential agreement with the prosecution will be disclosed during the forthcoming hearing.