Teresa Kwon, the subject, is presented in a U.S. courtroom setting.
Do Kwon, co-founder of Terraform Labs, appeared before a U.S. court on January 2, 2025, after being indicted by the Manhattan District Attorney's Office for his involvement in the Terraform crypto. Kwon pleaded not guilty to the charges, which include conspiracy to commit fraud, money laundering, market manipulation, and securities fraud.
The case, referred to as US v. Do Kwon, is being closely followed by Inner City Press, which will provide updates and live tweets about the trial. Initially, Kwon was scheduled for a change of plea hearing on January 2, 2025, where he was expected to explain how he violated the law if he chose to plead guilty. However, Kwon maintained his innocence and pleaded not guilty.
In a significant turn of events, Kwon pled guilty to federal charges related to the $40 billion collapse of the TerraUSD stablecoin on August 2025. Experts have characterized the plea deal as significant given the scope of losses involved and typical sentencing guidelines for such crimes.
The next court hearing in the U.S. government's case against Do Kwon has been delayed until April 2025. This postponement came as prosecutors reported finding an additional four terabytes of evidence, which requires further review. No specific date in April has been mentioned publicly yet.
Here's a summary of the key dates in the case:
- January 2, 2025: Scheduled change of plea hearing; Kwon initially pleaded not guilty but prepared to change plea.
- August 2025: Do Kwon pled guilty to multiple charges related to Terra collapse.
- April 2025: Next court hearing delayed due to new evidence review.
This outlines the latest publicly available information on Do Kwon's trial proceedings in the U.S. regarding crypto fraud. The case is related to his involvement with Terraform crypto and is being handled by the Manhattan District Attorney's Office.
The ongoing case against Do Kwon, involving charges of conspiracy to commit fraud, money laundering, market manipulation, and securities fraud, falls under the category of 'crime-and-justice' and 'policy-and-legislation', as it involves legal proceedings involving a co-founder of a cryptocurrency company. The case's implications extend beyond the crypto industry, making it a topic of interest in 'general-news' and 'politics', with allegations reaching as high as a federal court.
