Terraform Labs co-founder Do Kwon pleaded not guilty to US charges related to the $40 billion failure of the TerraUSD stablecoin.
Do Kwon has pleaded not guilty to nine US charges related to the TerraUSD collapse, including wire, securities and commodities fraud, according to a «Bloomberg» report citing legal proceedings in a Manhattan court. US prosecutors alleged that Kwon deceived investors about the Terra blockchain, including its technology and user adoption rate. A conference in the case was scheduled for January 8.
Kwon was extradited to the US earlier this week by authorities in Montenegro where he was arrested over using a fake passport for travel in March 2023. This follows a nearly two-year battle with authorities in South Korea who had also sought the extradition of Kwon to face local charges.
