Crypto, Kwon and in Prison
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Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, is set to be sentenced in New York federal court on Thursday for fraud and conspiracy.
Bitcoin and Ethereum are holding steady, but derivatives data shows traders quietly raising their exposure. Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies by market value, traded in a narrow range on Friday.
District Judge Paul Engelmeyer offered the Terraform Labs co-founder the chance to postpone his sentencing date, in light of hundreds of victim impact statements shared with the court in the past 24 hours.