Kwon, a notable figure, makes a court appearance in the United States
In the ongoing saga of the US v. Do Kwon case related to Terraform Labs, here's what we know so far:
The Securities and Exchange Commission (SEC) case against Terraform Labs PTE Ltd and Do Kwon alleged a multibillion-dollar crypto securities fraud. The defendants were accused of raising billions from investors through unregistered digital asset securities, including Terra USD (UST), LUNA, and MIR tokens, between April 2018 and May 2022.
In a significant turn of events, the defendants reached a settlement with the SEC. On June 12, 2024, a consent order was entered, imposing civil penalties nearing $4.5 million against Terraform Labs. The monetary remedies were to be allocated within the company’s Chapter 11 bankruptcy plan in U.S. Bankruptcy Court.
Following the settlement, Terraform Labs filed for Chapter 11 bankruptcy on January 21, 2024, with its British Virgin Islands (BVI) subsidiary filing on July 1, 2024. Their Chapter 11 proceedings and restructuring plans were recognized in courts both in Singapore and the BVI by mid-2024.
As of late July 2025, no new publicly available information about a criminal indictment, plea, or upcoming hearing date in US v. Do Kwon specifically was found. The SEC civil case appears to be resolved by settlement, and the ongoing bankruptcy and restructuring matters continue as per court orders.
The only court dates mentioned in the search results pertain to unrelated cases or other defendants. It's worth noting that the case is expected to be covered by Inner City Press, who will provide live updates and tweets about the case.
Stay tuned for more developments in this fascinating and complex case.
In the world of policy-and-legislation, the SEC case against Terraform Labs PTE Ltd and Do Kwon, a prominent politics issue, resulted in a settlement, with the focus now shifting towards the company's Chapter 11 bankruptcy plan and restructuring matters. Meanwhile, the crime-and-justice system seems to be taking a slower approach, as no new publicly available information about a criminal indictment or plea in the US v. Do Kwon case has been found as of late July 2025.
