The U.S. trial of Terraform Labs co-founder and former CEO Do Kwon in criminal fraud is tentatively scheduled to begin in January 2026 to give prosecutors and the defense time to process the 6TB of data expected to be generated during the discovery process. At an initial hearing in Manhattan on Wednesday, prosecutors said unlocking four mobile phones handed over by Montenegrin authorities and translating Korean materials would cause further delays. Kwon pleaded not guilty last week to nine counts of securities fraud, wire fraud, commodities fraud and money laundering conspiracy. Terraform Labs has filed for bankruptcy, and the next status conference in the case is scheduled for March 6. (CoinDesk)