Do Kwon, founder of Terraform Labs, is set to be sentenced in a Manhattan court on December 11. The 33-year-old South Korean entrepreneur pleaded guilty in August to multiple fraud charges related to the TerraLUNA/UST collapse, which resulted in losses of up to $40 billion for investors. Prosecutors have recommended a 12-year sentence, while the defense is seeking a five-year term. Kwon, who was arrested in Montenegro in March 2023 and extradited in December 2024, will also forfeit $19.3 million and certain assets.