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Jay Clayton

Jay Clayton

U.S. Attorney for the Southern District of New York

Appears in 1 story

Notable Quotes

"Do Kwon used the technological promise and investment euphoria around cryptocurrency to commit one of the largest frauds in history."

Stories

Do Kwon’s fall: from algorithmic stablecoin visionary to 15-year inmate

Rule Changes

Led the federal criminal case against Do Kwon and Terraform Labs.

Do Kwon sold TerraUSD as math-made money that could never break. In 2022 it snapped, vaporizing more than $40 billion and triggering a global hunt for the Stanford‑trained founder. Three years, an Interpol red notice, and a Montenegro arrest later, a New York judge has now handed him 15 years in federal prison.

Updated 5 days ago