Terraform Labs co-founder Do Kwon appeared before a United States magistrate on Jan. 2, 2025, and pleaded not guilty to the charges in the first legal hearing for the former executive since his extradition to the US.
The embattled crypto founder appeared before US Magistrate Judge Robert Lehrburger of the Southern District of New York in Manhattan on Thursday afternoon to submit his plea.
Do Kwon indictment. Source: Court Listener
The former crypto executive faces several counts of securities fraud, wire fraud, money laundering charges, and commodities fraud for his role in the collapse of the Terra ecosystem in 2022.
Thursday's hearing marks a milestone in the legal saga of Do Kwon, which has taken several turns since 2023, as Montenegrin court officials weighed extraditing the Terraform co-founder to the United States or his homeland of South Korea.
This is a developing story, and further information will be added as it becomes available.
