The co-founder of Terraform Labs, Do Kwon, appeared in Manhattan court on January 2 and pleaded not guilty to eight felony charges for his role in the collapse of Terra in 2022.
He is likely to face additional charges of money laundering conspiracy for allegedly facilitating illicit transactions known to be worth over $10,000.
It is unclear whether U.S. authorities will consider a plea deal or intend to proceed with a criminal trial.
