The crypto assets world is once again stirred by huge waves. Do Kwon, the co-founder of Terraform Labs who once triggered a market upheaval, appeared today in a federal court in New York facing multiple charges. This case involving the collapse of TerraUSD/LUNA, amounting to about $40 billion, has caused heavy losses for countless investors.

Do Kwon had previously insisted on his innocence, but it is reported that he may change his stance in today's hearing. If he ultimately pleads guilty, Do Kwon will face severe legal consequences, including long-term imprisonment and hefty fines. The charges against him include securities fraud, telecom fraud, and multiple felonies related to market manipulation.

This event has once again sparked discussions on regulation in the Crypto Assets industry. Many experts believe that this case could become a milestone in the history of Crypto Assets regulation, having far-reaching effects on the future development of the entire industry. At the same time, it also warns investors to be cautious when dealing with high-risk Crypto Assets investments.

As the trial proceeds, the crypto assets market is closely monitoring the developments. In particular, the price of the LUNC token (formerly known as LUNA) related to this case may experience fluctuations. Regardless of the outcome, this case will become an important chapter in the history of crypto assets, and may drive the entire industry towards a more regulated and transparent direction.