All this is BS. He was doing the same scam many other projects (even MicroStrategy) is doing - praying on users FOMO - as long as there are new users, old ones will profit. The main reason Terra project have to be killed was that it was the only project providing non-USD stable coins, which was a direct attack on USD dominance. So they made an example of him to discourage other projects going in this direction (non-USD stable coins).
>Kwon agreed in 2024 to pay $80 million as a civil fine and be banned from crypto transactions
Being banned from transacting cryptocurrency seems overly harsh. Like how Samy Kamkar was banned from using the internet. You can't really live a normal life without internet access anymore.