PANews reported on December 5th that, according to Bloomberg, U.S. prosecutors, in court documents filed Thursday night with a New York federal judge, stated that Terraform Labs Pte. co-founder Do Kwon's fraudulent activities were "massive" and should be severely punished, recommending a 12-year prison sentence. Prosecutors noted that Do Kwon lied to customers, triggering a chain reaction of crises in the cryptocurrency space, including the collapse of SBF's FTX exchange. U.S. District Judge Paul Engelmayer will sentence Do Kwon on December 11th.