算法稳定币TerraUSD创始人权道亨因400亿美元加密货币崩盘案将被判刑

Core Viewpoint - The sentencing of Kwon Do-hyung, co-founder of Terraform Labs, is set to take place in New York federal court due to fraud and conspiracy charges related to the collapse of two cryptocurrencies, resulting in a loss of approximately $40 billion in market value [1][4]. Group 1: Legal Proceedings - Kwon Do-hyung has pleaded guilty to charges of conspiracy to commit fraud and telecommunications fraud, admitting to making misleading statements about the stability of the TerraUSD stablecoin during market volatility [3][6]. - The prosecution has requested a minimum sentence of 12 years in prison, citing that the collapse of the Terra ecosystem led to billions of dollars in losses and triggered a crisis in the cryptocurrency market [5]. - Kwon's defense attorney has requested a sentence of no more than 5 years to allow him to return to South Korea to face local criminal charges [2][5]. Group 2: Financial Impact - The TerraUSD stablecoin was designed to maintain a peg to the US dollar through an algorithm, but it decoupled in May 2021, leading to a price drop below $1 [2][5]. - Following the decoupling, Kwon falsely claimed that a computer algorithm named "Terra Protocol" would restore the token's value, while secretly arranging for a high-frequency trading firm to purchase millions of dollars worth of TerraUSD to artificially inflate its price [2][5]. Group 3: Settlements and Future Implications - In 2024, Kwon and Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission for $4.55 billion, with Kwon agreeing to pay an $80 million civil fine and being banned from participating in cryptocurrency trading [3][6]. - Kwon faces multiple charges in South Korea, and according to his plea agreement, the prosecution will not oppose his request for extradition after serving half of his sentence in the U.S. [6].