#PIPPIN

Major development in the Terra case: Federal prosecutors have just submitted a sentencing recommendation for Do Kwon, seeking a 12-year prison term.
If the court adopts the prosecution’s recommendation, the founder of one of the most sensational collapses in cryptocurrency history will face more than a decade in prison. This marks a significant escalation in the legal consequences stemming from the Terra-Luna collapse, which caused billions of dollars in investor losses in 2022.
The 12-year sentencing request demonstrates the authorities’ seriousness regarding this matter. When UST lost its peg and LUNA’s price plummeted to near zero, regular investors suffered massive losses, and prosecutors appear determined to send a strong message about accountability in the crypto space.
While the final ruling from the judge is still pending, this sentencing recommendation gives us a clearer outlook on the consequences of the industry’s biggest scandal.