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Terraform Labs founder Do Kwon is set to face trial in 2026 in New York on fraud charges, according to a Bloomberg report. Kwon is facing criminal fraud charges tied to the $40 billion collapse of the TerraUSD stable coin in 2022. JUST IN: Do Kwon to go to trial in 2026 on criminal fraud charges tied to the $40 billion collapse of TerraUSD stablecoin. pic.twitter.com/dMT0lafUmJ — Watcher.Guru (@WatcherGuru) January 8, 2025 According to US District Judge Paul Engelmayer in NYC, Do Kwon’s trial is scheduled for January 26, 2026. It’s expected to last four to eight weeks. Kwon has pleaded not guilty , after returning to the US following a 2-year extradition saga. Arrested in 2023, Kwon’s extradition has been the topic of discussion for the last two years. Kwon was apprehended for attempting to fly from Montenegro with falsified documents. With South Korea still charging the former crypto mogul, the country had opted to send him to the United States. Source: Coingape Also Read: ...

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. According to a Reuters report, Kwon, who co-founded Terraform Labs, was arrested in Montenegro last March while attempting to board a flight using a fake Costa Rican passport. He had evaded authorities since the May 2022 crash of his TerraUSD and Luna cryptocurrencies. The extradition followed the Montenegro Constitutional Court’s rejection of Kwon’s final appeal. “It was concluded that the majority of the criteria prescribed by law favor the extradition request from the competent authorities of the United States of America. Consequently, the Minister of Justice issued a decision approving the extradition of Kwon Do Hyung to the United States, while simultaneously rejecting the extradition request from the Republic of Korea.” Kwon faces multiple charges in the US, incl...

Do Kwon’s controversial extradition to South Korea could have been part of a trade deal that would give the country control of Montenegro’s airports for 30 years, according to the former Justice Minister. Andrej Milović, who is now running for mayor, told publisher Vijesti that Prime Minister Milojko Spajić would use Do Kwon as a tool to trade state interests and resources “as compensation for covering up this case.” Spajić supposedly prepared for months to give France concession over Montenegro’s airports. However, Milović says that he began to “speak positively” about a South Korean airport deal after the court of appeal ruled that Do should be extradited to South Korea. “Therefore, I ask Spajić, did he extort extradition in order to cover up the case, in exchange for the Montenegrin Airport concession?” he said.   Pictures of Podgorica Airport in Montenegro’s capital (Sourced from Wikimedia Commons). He added, “By extraditing Do Kwon to South Kore...