Do Kwon, the founder of the defunct algorithmic stablecoin protocol Terra, is set to serve 15 years behind bars.
Terra’s $40 billion implosion is considered one of the first dominoes to fall, leading to the bear market and FTX collapse in 2022, and to intense regulatory scrutiny of the crypto industry from the United States in 2023.
LUNA, now LUNC, soared from a $325 million market capitalization in January 2021 to $41 billion by April 2022, before collapsing to near-zero in May of that year.
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