Kwon Do-hyung, the former CEO of Terraform Labs, has pleaded not guilty to fraud charges in a Manhattan court in the United States. Kwon is accused of leading the collapse of the cryptocurrency Terra-Luna, which resulted in billions of dollars in losses for investors. The charges against Kwon include conspiracy to commit fraud and price manipulation, wire fraud, securities fraud, and interstate communications fraud. He was extradited to the US from Montenegro in December 2022. If convicted, Kwon could face up to 20 years in prison. The trial is scheduled to begin in October 2023.