U.S. prosecutors recommended a 12-year prison sentence for Do Kwon.

U.S. prosecutors, in court filings submitted Thursday night to a New York federal judge, stated that Terraform Labs Pte. co-founder Do Kwon's fraudulent activities were "massive" and should be severely punished, recommending a 12-year prison sentence. Prosecutors noted that Do Kwon lied to customers, triggering a chain reaction of crises in the cryptocurrency space, including the collapse of SBF's FTX exchange. U.S. District Judge Paul Engelmayer is scheduled to sentence Do Kwon on December 11.