Do Kwon, the co-founder of Terraform Labs, pleaded not guilty in a US court on Jan. 2 for fraud charges related to the collapse of the Terra ecosystem. Kwon faces nine charges, including wire and securities fraud, after the implosion of the TerraUSD stablecoin. He was arrested in Montenegro in March 2023 and extradited to the US. Kwon is accused of misleading investors about Terra's capabilities, leading to its collapse. The Manhattan US Attorney's Office is handling the case. Kwon previously settled a civil fraud case with the SEC for $4.47 billion. Despite the legal battles, Kwon's attorney declined to comment. The extradition battle between the US and South Korea has ended, with the US likely to proceed. The article also discusses the growing interest in crypto ETFs and the potential adoption of Bitcoin by the US to stabilize global currencies. Read more AI-generated news on: https://app.chaingpt.org/news