Crypto founder Do Kwon pleads guilty to US fraud charges | Hacker News Reader

Crypto founder Do Kwon pleads guilty to US fraud charges

ft.com

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https://archive.ph/Zvpwe

Is there a prediction market bet on whether or not he gets pardoned?

years/per trump meme coin, what is the rate I wonder?

Can Do Kwon bet enough money on “yes” to over his own roughly $30M bribe.

Im still waiting for the "will Fascist X die by 20Xx" market.

The max he can get is 20. More likely he will get half of that which would be around 10. If he goes to federal prison that means he would have to at least 8.5 years. The other issue is he's not a US citizen so they could also just deport him, confiscate his passport and put him on a no-fly list to keep him out of the country.

There's no reason to pardon him.

Money, clout, and leverage.

> There's no reason to pardon him.

That doesn't really seem to be stopping pardons from going ahead.

The Jan 6th protestors were sentenced for far fewer months and were all pardoned even after completing their time.

Not apples to apples.

Kwon is a foreign national. All the J6ers were US citizens.

https://manifold.markets/evan/who-will-trump-pardon-in-2025-...

Do Kwon at 5% as of this comment.

What's going on with 3AC and where is Kyle Davies?

Also baffled to see Zhu Su not in prison and tweeting.

Making bad leveraged bets and sticking your lenders with the bill has surprisingly lenient sentences, compared to defrauding retail customers, like in the case of FTX.

It's all so exhausting to see.

Looks like he's going to do about 12 years which is insanely low for the financial damage caused and after he will be deported to South Korea where he will be immediately put on trial and sentenced to prison again.

He might just get (or buy) a pardon from Trump like other centralized crypto exchange money launderers/scammers and other white collar criminals recently: https://www.axios.com/2025/03/31/trump-pardons-bitmex-crypto...

"might". It seems like that's the way business is operating these days with this kind of activity.

probably 1000s of ppl have been sentenced to fed prison over the past decade for white collar crimes. 4 pardons is hardly an outlier .

How much money he had when he was caught? How much you profited usually makes a difference in sentencing.

The plea deal includes forfeiting US$19 million.

the key here is intent. the Luna protocol was flawed but this is not the same as him intentionally scamming people

> The South Korean crypto entrepreneur

Stop calling him an "entrepreneur" now!!

On an unrelated note, I just clicked the paywalled link and holy crap - do they seriously expect people to pay 70$ per month for access to their articles? Maybe I am not the right target group for that..

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