According to Odaily Planet Daily, documents from the Southern District of New York federal court indicate that Terraform Labs co-founder Do Kwon may reverse his position and plead guilty on Tuesday morning. Previously, Do Kwon was indicted by US prosecutors in March 2023 on multiple charges, including fraud conspiracy, commodities fraud, wire fraud, securities fraud, market manipulation, and money laundering, stemming from the collapse of the algorithmic stablecoin Terra USD (UST).

In his scheduling order, Judge Paul Engelmayer stated that "the court has been informed that the defendant may change his plea," and ordered the defendant to prepare a statement regarding the guilty plea. Do Kwon previously pleaded not guilty to all charges in January of this year. (The Block)