Do Kwon will accept the court's ruling or face a 12-year prison sentence

The founder of Terraform Labs, Do Kwon, will receive a ruling from U.S. District Judge Paul Engelmayer later today in a Manhattan court. Reports indicate that prosecutors have requested the court to impose a 12-year prison sentence on Do Kwon, citing factors including his guilty plea.

Previously, during a hearing presided over by Federal Judge Paul Engelmayer in the Southern District of New York, Do Kwon pleaded guilty to charges of conspiracy to commit fraud and wire fraud. In January of this year, he had pleaded not guilty to nine charges, including securities fraud, wire fraud, commodities fraud, and money laundering.