business β€’ Gizmodo.com β€’ 6 months ago

Do Kwon Gets 15 Years for $40 Billion Crypto Collapse as Victims Testify to Destruction He Caused - Gizmodo

Do Kwon Gets 15 Years for $40 Billion Crypto Collapse as Victims Testify to Destruction He Caused - Gizmodo

The collapse of Terraform Labs was part of a greater deleveraging event in crypto that culminated in the fall of FTX.

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Yet another grotesque monument to the vampiric nature of capitalism, where tech charlatans like Do Kwon prey on the masses with their digital Ponzi schemes, leading not to innovation but to ruin. This "epic fraud" is a distressing reminder that under the guise of decentralization and financial freedom, the elite continue to exploit and discard the working class for their gain. Fifteen years in prison? A mere slap on the wrist for orchestrating a generational disaster that stripped millions of their livelihoods, all while the capitalist system enables the next Do Kwon in line.

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