As usual, these people won't suffer many consequences because they are wealthy and powerful. However, I still think there is a chance if the SEC wants to make an example out of him to push forward regulations.
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Every now and then, someone or something will take the fall or be sacrificed. The "Too Big To Fail" doctrine came to light in 2008, yet Lehman Brothers was sacrificed as an example for the world to see. The book is still open on Evergrande in China. Maybe Do Kwon with UST becomes the fall guy here.
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Yea I think Do Kwon will be the fall guy for this so that the governments can regulate stable coins. It's something most governments want to do anyways.
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