$LUNA $LUNC Hot news, I have整理了一下, please大家点个关注, I will继续分享进展!! On January 2nd, local time in the United States, Do Kwon, the former founder of Terra and co-founder of Terraform Labs, officially appeared in the public view of the US court. At the hearing in the Manhattan federal court, Do Kwon pleaded not guilty, and the case will officially enter the trial process.

Odaily previously reported that the Prime Minister of Montenegro, Milojko Spajic, stated on Tuesday that Montenegro has completed the procedures for extraditing Terraform Labs co-founder Do Kwon to the United States. Spajic posted on the X platform, saying: "This extradition demonstrates our unwavering commitment to international justice and the rule of law."

Do Kwon faces prosecution in New York and Seoul due to the collapse of the 40 billion USD TerraUSD stablecoin in 2022. Last year, he was arrested in Montenegro for traveling with a forged passport. In April of this year, after a civil trial regarding charges from the US Securities and Exchange Commission (SEC), Terraform and its founder Do Kwon were found guilty of fraud. Terraform has agreed to pay 4.5 billion USD to settle with the SEC.

Looking ahead to the trial process

In court, Do Kwon pleaded not guilty to the charges against him. So what will happen next?

Pleading not guilty is a formal statement made by a defendant in a criminal case in the US judicial process, meaning he denies committing the crimes charged. This does not mean the defendant is directly found not guilty, but rather requires the prosecution to provide sufficient evidence to prove the charges are valid. The case will enter the trial phase, where the court will decide whether the defendant is guilty.

On January 8th, the case will be heard again.

In other words, we will witness a courtroom drama similar to that of SBF earlier this year, from witness appearances to the final verdict, many inside stories of the Terra collapse will be revealed. Odaily will continue to track and report for you.

He could face 130 years in prison, yet he smiles.