Do Kwon Receives 15-Year Sentence for Multibillion-Dollar Fraud Scheme
Sentencing Details: Do Kwon, co-founder of Terraform Labs, was sentenced to 15 years in prison for a multibillion-dollar fraud that led to the collapse of his crypto empire and significant losses in the digital asset market.
Legal Proceedings: Kwon, who was a fugitive before his arrest in Montenegro, faces additional legal challenges in South Korea after serving his U.S. sentence, having previously pleaded guilty to conspiracy and wire fraud.
Impact on Crypto Market: The judge described Kwon's actions as a "fraud of epic generational scale," linking his deception to the broader "crypto winter" and the failures of other crypto entities like FTX and Celsius.
Future Implications: Kwon agreed to forfeit $19.3 million and properties, with prosecutors indicating they would support his transfer to South Korea for the latter part of his sentence, while not pursuing restitution for the estimated $40 billion in investor losses.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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