South Korean cryptocurrency mogul pleads guilty to fraud charges in $40B cryptocurrency collapse

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South Korean cryptocurrency mogul pleads guilty to fraud charges in $40B cryptocurrency collapse
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South Korean cryptocurrency mogul Do Kwon has pleaded guilty to two fraud charges arising from a $40 billion cryptocurrency collapse. The man some dubbed ‘the cryptocurrency king’ entered his plea Tuesday in Manhattan federal court. Authorities said investors worldwide lost money in Singapore firm Terraform Labs' cryptocurrency crash.

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