Golden Finance reported that Do Kwon, co-founder of the crypto company Terra, has pleaded not guilty to U.S. fraud charges at a hearing in a Manhattan federal court. According to Reuters, Do Kwon's lawyer Andrew Chesley defended him and said he would not seek bail for the time being. U.S. District Court Judge Robert Lehrburger therefore ordered his detention. When the U.S. Marshals took Do Kwon out of the court, he took away a 79-page copy of the indictment and is expected to appear in court again on January 8.