According to the latest news, Do Kwon, the founder of Terraform Labs, may adjust his previous stance during the hearing on the evening of August 12. Previously, Kwon faced several serious charges, including fraud and market manipulation, due to the operations of Terraform and the collapse of the Terra/Luna stablecoin network.

The U.S. Securities and Exchange Commission has ruled on a related civil case, requiring Kwon to pay up to $4.5 billion in fines and damages. This high-profile case was originally scheduled to go to trial in January next year, involving a substantial amount of data that needs to be reviewed by the prosecution, totaling about 6TB.

It is worth noting that Kwon was detained in Montenegro last year for attempting to leave the country using a forged passport and was subsequently extradited to the United States. Ahead of the upcoming court hearing, the judge has instructed the defense attorneys to carefully review any potential plea agreements or related legal documents with Kwon himself.

This sudden shift has sparked widespread attention in the industry. If Kwon really changes his previous "not guilty" stance, it could have a significant impact on the direction of the case. At the same time, this may also bring new discussions and reflections for the entire cryptocurrency industry, especially in terms of regulation and risk management.

As the hearing approaches, both the cryptocurrency community and the legal field are closely watching the developments. Regardless of the outcome, this case could become an important turning point in the history of cryptocurrency and may have far-reaching implications for the future of the industry.