Merrick Garland

Stories

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

As of May 2026: Framed Kwon’s extradition as part of a broader Justice Department push on crypto fraud.

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 May 11

From special counsel to subpoena: the Jack Smith–Trump showdown moves to Congress

Rule Changes

As of May 2026: Former AG whose appointment of Smith is under renewed political scrutiny

In November 2022, Attorney General Merrick Garland appointed veteran prosecutor Jack Smith as special counsel to oversee two high‑risk investigations into Donald Trump: his efforts to overturn the 2020 election and his handling of classified documents at Mar‑a‑Lago. Both probes produced federal indictments in 2023, placing a former president on track to face criminal trials over alleged election subversion and mishandling of national‑security secrets.

Updated May 10

Notable Quotes

"Do Hyeong Kwon will now be held accountable in an American courtroom for his elaborate schemes involving Terraform’s cryptocurrencies."

from Do Kwon’s fall: from algorithmic stablecoin visionary to 15-year inmate · Updated May 11

Garland said a special counsel was needed to ensure public confidence that the Trump probes were handled with 'independence and accountability.'

from From special counsel to subpoena: the Jack Smith–Trump showdown moves to Congress · Updated May 10