| Do Kwon Pleads Guilty so 12
Year Sentence to Be Advocated for
by US and $19 Million Fine
by
Matthew Russell Lee,
Patreon Book
Substack
SDNY
COURTHOUSE,
Aug 12– After the collapse of
the crypto firm Terraform
Labs, Inner City Press covered
the SEC's trial against it and
Do Kwon - except that Kwon was
in Montenegro. Now, Do
Kwon book here
Early on
January 2, 2025 Inner City
Press learned and vlogged that
Kwon would be presented later
in the day before U.S.
District Court for the
Southern District of New York
Magistrate Judge Robert W.
Lehrburger.
The superseding
indictment, Inner City Press
immediately put it online here
Just after noon
Do Kwon was presented and pled
not guilty, was detained, thread
The case was
reassigned to Judge Paul A.
Engelmayer to whom the US
Attorney's Office on January 6
directed a victims' notice
motion, on Patreon here
On August 11,
2025 Judge Engelmayer docketed
an order that Do Kwon was a
change of plea - to guilty -
on August 12 at 10:30 am.
Order on Patreon here.
On August 12
Inner City Press live tweeted
the guilty plea, including
AUSA saying her Office will
advocate for a 12 year
sentence if Do Kwon commits no
new crimes. Thread.
More on X for
Subscribers here and Substack
here
On February
27-28, the US Attorney's
Office put in a four page
letter describing discovery
(including documents from a
country left unnamed), and
proposed adjourning the
upcoming status conference.
Filing on Patreon here
More / extra on X
for Subscribers here,
Patreon (with earlier US case
status summary) here
Amid talk of the
new
administration's
crypto executive
order - and
before the SEC
moved to drop
its case against
Coinbase - Inner
City Press
published a
book: "Crypto
Death Spiral:
Could a Luna
Rise Again?" by
Matthew Russell
Lee, ebook here, audiobook here.
Watch this site
The case is USA
v. Kwon, 1:23-cr-151
(Engelmayer)
***
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