Terraform Labs co-founder Do Kwon has requested a prison sentence of no more than five years from a U.S. court regarding his role in the 2022 collapse of the TerraUSD stablecoin. He previously pled guilty to conspiracy and wire fraud charges earlier in 2024. The 2022 collapse erased approximately $40 billion from crypto markets, causing widespread financial damage. The sentencing decision is scheduled for December 11. [Update 1] New reports confirm that Kwon's legal team has formally petitioned the judge to limit the sentence to five years, citing comparisons to similar cases, while prosecutors continue to pursue potential further actions.