Why is Do Kwon going to prison?

[cryptohog]

Kwon was sentenced for orchestrating the $40 billion collapse of TerraUSD (UST) and Luna, a stablecoin ecosystem he falsely claimed was “safe” and “algorithmically guaranteed.” Prosecutors proved he misled investors, hid structural risks, and promoted UST’s stability knowing it could collapse. His actions caused losses for up to 1 million people worldwide.

[Rimon Khan]

He’s going to prison for orchestrating a misleading stablecoin system that resulted in billions in losses.

[JanEmil]

We gamble. Sometimes we loss.

[Nahid Hossen]

As blockchain adoption grows, prediction markets offer a new financial primitive that traditional systems can’t match.