is a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Terraform Labs co-founder Do Kwon has pleaded guilty to conspiracy and wire fraud three years after his collapsed cryptocurrency firm wiped out $40 billion in funds, according to a report from Bloomberg. Kwon entered his plea in a New York court on Tuesday as part of a deal reached with prosecutors that reduced his charges. Kwon was arrested in Montenegro in 2023 before the country extradited him to the US over a year later. Kwon’s sentencing is set for December 11th, with the conspiracy charge holding a maximum sentence of five years, and wire fraud at a maximum of 20 years, according to Bloomberg.