Recently, the Crypto Assets industry has been shaken again. Do Kwon, the co-founder of Terraform Labs, admitted to two major charges on August 12: conspiracy to commit fraud and wire fraud. These charges are directly related to the collapse of TerraUSD (UST) and Luna coins, involving amounts of over $40 billion.

This event has sparked widespread discussion in the Crypto Assets community. Some believe that UST was a complete scam from the beginning, while LUNA may have been innocently caught up in it. This perspective reflects the market's complex views on different crypto assets.

Do Kwon's guilty plea has sparked speculation about his future fate. Given the seriousness of the case and the enormous amount involved, many industry insiders believe that the likelihood of Do Kwon receiving a pardon is low.

This incident once again highlights the risks of the Crypto Assets market and the necessity for regulation. It not only affects the investors directly involved but also deals a blow to the credibility of the entire Crypto Assets ecosystem. Regulatory authorities may take this opportunity to strengthen the scrutiny and management of Crypto Assets projects.

For investors, this case serves as a stern warning, reminding people to remain vigilant when entering the high-risk Crypto Assets market and to conduct thorough research and risk assessment. At the same time, it also highlights the challenges and issues that need to be addressed when applying blockchain technology in the financial sector.

As the situation develops, the cryptocurrency industry may usher in a new round of reforms and adjustments. Investors, regulators, and industry participants will closely monitor the follow-up developments of this case and its long-term impact on the market.