A federal judge has scheduled a conference for Terraform Labs co-founder Do Kwon to potentially change his plea on nine felony counts, including securities fraud and market manipulation. Kwon’s actions allegedly led to a $40 billion wipeout in investor assets in the Terra ecosystem crash. His legal battle began in Montenegro and now faces US charges.

Kwon has been held without bail for seven months and is expected to enter a plea in a Tuesday conference. His case could be influenced by recent US crypto law shifts. Kwon’s legal team has engaged in discussions with prosecutors, potentially reaching a plea deal.

The Tuesday conference follows the guilty verdict of Tornado Cash co-founder Roman Storm for operating an unlicensed money transmitting service. Terraform settled a lawsuit with the SEC in 2024, agreeing to pay $4.5 billion in disgorgement fines and penalties. Kwon’s plea could impact his criminal trial set for January 2026.

Read more at Cointelegraph.com

1. Bitcoin reaches new all-time high of $60,000, driven by increasing institutional interest and adoption among mainstream investors.

2. Ethereum price surges to over $2,000, fueled by growing demand for decentralized finance (DeFi) applications and the upcoming Ethereum 2.0 upgrade.

3. NFT sales hit record levels, with $87 million in transactions in February alone, signaling a growing interest in digital collectibles and art on blockchain platforms.

4. Tesla announces $1.5 billion investment in Bitcoin, sparking debate over corporate adoption of cryptocurrencies as a treasury reserve asset.: Do Kwon Could Change Plea In Criminal Case At Aug. 12 Conference