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According to international media reports, Do Kwon, the co-founder of Terraform Labs, recently admitted to two major charges in a U.S. court, including conspiracy to commit fraud and telecommunications fraud. This incident has caused a huge stir in the Crypto Assets community, as Kwon was a key developer of the highly watched Crypto Assets TerraUSD and Luna.
The collapse of these two crypto assets caused a staggering loss of about 40 billion USD in the market, with far-reaching effects. If found guilty, Kwon could face up to 25 years in prison, which would undoubtedly have a significant impact on the entire crypto assets industry.
This event has once again sparked discussions about the regulation of crypto assets and investment risks. Many industry insiders believe that this may prompt regulatory agencies to strengthen their scrutiny of crypto asset projects, while also reminding investors to be more cautious when making investments in crypto assets.
As the case progresses, the future direction of the Crypto Assets market is receiving significant attention. This event could become an important turning point in the history of Crypto Assets, prompting the industry to move towards a more standardized and transparent direction.