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Do Kwon, co-founder of the failed cryptocurrency firm Terraform Labs, appeared in a Manhattan court after being extradited from Montenegro to face criminal charges. A new indictment adds a money laundering count to earlier charges, including securities and wire fraud, related to Terraform's $40bn collapse in 2022.
Do Kwon, co-founder of Terraform Labs, appeared in a U.S. court on Jan. 2, 2025, where he pleaded not guilty to charges stemming from the collapse of the Terra ecosystem.
He faces nine charges, including wire, securities, and commodities fraud. He is being prosecuted by the Manhattan US attorney's office, the same team that brought Sam Bankman-Fried to trial.
Terraform Labs founder Do Kwon pleaded not guilty to nine U.S. fraud charges related to the collapse of TerraUSD and Luna.
The Terraform Labs co-founder was indicted on eight felony charges in 2023 but will likely face an additional count for money laundering conspiracy.
Terraform Labs co-founder Do Kwon appeared in court on Jan. 2 in the US and pleaded not guilty to fraud charges linked to the $40 billion implosion of the TerraUSD (UST) stablecoin, Bloomberg News reported. Kwon appeared before US Magistrate Judge Robert Lehrburger in Manhattan and agreed to remain in custody without bail.
Terraform Labs co-founder Do Kwon pleaded not guilty in a New York court shortly after being extradited to the U.S. from Montenegro.
Terraform Labs co-founder Do Kwon has pleaded not guilty to U.S. fraud charges after being extradited from Montenegro. Prosecutors allege he misled investors about TerraUSD's stability, leading to its collapse and losses across the crypto market. The post Do Kwon Pleads Not Guilty to U.S. Fraud Charges After Extradition from Montenegro appeared first on Cryptonews.
Do Kwon made his first appearance in a US court today, facing federal fraud charges. Kwon entered a plea of “not guilty,” local reporters have claimed.
Do Kwon, the South Korean cryptocurrency entrepreneur and co-founder of Terraform Labs, pleaded not guilty on Thursday to a series of criminal fraud charges in a Manhattan federal court. This comes just days after his extradition from Montenegro, where he had been detained for over a year.
Freshly extradited from Montenegro, Terraform Labs co-founder Do Kwon pleaded not guilty to U.S. criminal charges over Terra's collapse.
The disgraced co-founder of the Terra (LUNA) ecosystem is set to appear in a US court today after recently being extradited from Montenegro.
Hyung Do Kwon walked into a Manhattan courtroom on Thursday, calm and collected, as if the $40 billion collapse of Terraform Labs wasn't sitting on his shoulders. His plea? “Not guilty.
Do Hyeong Kwon, the South Korean cryptocurrency figure once hailed as the “crypto king,” appeared in a Manhattan federal court on Thursday, pleading not guilty to a newly unsealed indictment.
A Manhattan hearing today saw Terraform Labs co-founder, Do Kwon, deny charges tied to the TerraUSD collapse.
In the latest development, Terraform Labs co-founder Do Kwon appeared before a United States magistrate on Jan. 2, 2025, and pleaded not guilty to the charges in the first legal hearing in Manhattan since his extradition to the US.
The case highlights the growing scrutiny and legal challenges facing cryptocurrency leaders, potentially impacting future regulatory frameworks. The post Do Kwon pleads not guilty to US fraud charges at Manhattan hearing appeared first on Crypto Briefing.
Terraform Labs co-founder and former CEO Do Kwon has pleaded not guilty to multiple fraud charges in a Manhattan federal court on Thursday. This appearance follows his extradition from Montenegro, where he had been detained since March 2023 for traveling on a fake passport.
"The defendant, orchestrated schemes to defraud purchasers of cryptocurrencies," the indictment against the Terraform co-founder read.
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was set to appear in U.S. court on Thursday to face criminal fraud charges after being extradited from Montenegro this week.
Binance Terra Luna Classic (LUNC) burn approaches new milestone. With the latest 1.7 billion tokens burned in the 29th batch of its LUNC burn mechanism, the community hopes for a massive rally in LUNC price in 2025.
Prosecutors allege that Kwon orchestrated a multibillion-dollar fraud that left investors reeling.
On New Year's Eve, Montenegro authorities announced that Terraform Labs co-founder Do Kwon was extradited to the United States. The development comes after the Minister of Justice signed the order for his extradition, concluding the prolonged battle between the US and South Korea to bring the crypto entrepreneur to trial.
Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.
