The co-founder of Terraform Labs, Do Kwon, could seize a change of plea on Tuesday August 12, 2025. According to a judicial file dated August 11, the district judge of the United States, Paul Engelmayer, was informed of the change of advocacy, which will considerably change the legal course of the case after months of dispute.
Previously, Kwon had pleaded guilty to the crime counts, including a values fraud, wire fraud, money laundering and fraud of raw materials. Judge Engelmayer ordered the parties involved on Tuesday to appear before a New York court.
“The defendant should be ready to give a narrative allowance which incorporates all the elements of the offense (s) to which the defendant pleads guilty. In the interest of clarity and efficiency, the court encourages the advice to help the defendant write an allowance which can be read before an open court during the advocacy procedure,” noted the Judge Engelmayer.
Kwon de Terraform fights to survive
Kwon of Terraform has undergone heavy losses due to disputes in different jurisdictions in recent years. The police have also entered its assets, in particular cryptographic assets which he acquired during his mandate on the Terraform project.
A good deal would push Kwon to the same fate as the founder of the FTX, Sam Bankman Fried (SBF), who is currently serving a sentence of 25 years in prison in the United States.
What is the expected impact on Luna
Since Luna’s collapse, a market assessment of more than $ 30 billion at $ 109 million, the project has struggled to regain market share. The notable legal opposites in recent years have made Luna’s price not recover from his market accident, despite the progressive progressive rebound.
In the past 24 hours, Luna Price dropped by 3%, continuing with the 50% drop in the year. The growing competition in the blockchain space in the middle of the low confidence of the terra Luna ecosystem increased the upward perspectives of the token.
