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South Korean crypto entrepreneur Do Kwon was sentenced to 15 years in jail on Thursday.
That's over the $40 billion collapse of the TerraUSD and Luna tokens that he created.
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U.S. District Judge Paul Engelmayer said Kwon misled everyday investors who trusted him with their life savings, calling the scheme fraud quote, "on an epic, generational scale."
The 34-year-old Kwon admitted to misleading investors over TerraUSD, a so-called stablecoin meant to stay at $1 in value.
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When it started to lose value in 2021, he secretly used a trading firm to prop up its price, while telling investors an algorithm fixed it.
Prosecutors said Kwon's fraud triggered a cascade of crises in the crypto market.
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He pleaded guilty to conspiracy to defraud and wire fraud, and apologized in court.
Kwon also faces charges in South Korea.
As part of his plea deal, he may apply for transfer abroad after serving half his U.S. sentence.
