At a preliminary hearing held in Manhattan, Chief Prosecutor Jared Leno told the court that the criminal fraud trial of Do Kwon, co-founder and former CEO of Terraform Labs, is tentatively set to begin in January 2026, to give prosecutors and Kwon's defense ample time to review the 'massive' 6TB of data expected to be generated during the investigation.
The prosecutor stated that the government is expected to face further delays, as Montenegrin authorities provided four mobile phones upon the extradition of Do Kwon to the United States on December 31, which they were unable to access encrypted information and unlock. Therefore, the government will encounter more delays. Additionally, the government must translate materials from Do Kwon's native Korean into English.
The next status conference in the case is scheduled for March 6 at 11 a.m. Eastern Time.