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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: ...

Sam Bankman-Fried set to testify in FTX fraud trial. Prior statements BY SBF are under scrutiny as he testifies under oath. Key testimonies accuse him of fund misappropriation. Former FTX CEO Sam Bankman-Fried (SBF) is today scheduled to testify in the ongoing criminal FTX fraud trial. SBF is facing allegations of misusing customer and investor funds to over $8 billion, leading to FTX’s Chapter 11 filing in November 2022. As the trial unfolds, the spotlight is now on Sam Bankman-Fried as he prepares to take the stand to defend himself against the serious allegations brought against him. His testimony comes after a series of developments in the trial, including the testimony of former colleagues and insiders who have accused him of directing actions that led to the alleged misappropriation of funds. What Bankman-Fried has previously stated In the wake of FTX ’s collapse, Bankman-Fried sought to explain the situation to the public, contending that...

On the 10th day of Sam Bankman-Fried’s historic trial , Nishad Singh reveals how events up to the bankruptcy unfolded.  As FTX founder Sam Bankman-Fried’s trial reaches its 10th day, former Senior Engineer Nishad Singh is cross-examined by the defense. Yesterday, Singh testified how the former FTX CEO spent lavishly and made several large-scale investments from the platform’s funds.  As the case resumes today, here are the top highlights:  Cross-examination of Nishad Singh Nishad Singh participated in assessing Anthropic before FTX made the investment. Singh wanted to make a separate investment or donation to Anthropic. Singh received up to $2 million in bonuses from FTX and also borrowed $477 million. The reason for the loan was to make donations to a charity, but that never happened. He never received cash for that loan, it was only on paper. Read more: SBF trial day 10: Judge Kaplan hints at early November conclusion Singh received a separate $10 mil...

The second week of Sam Bankman-Fried’s criminal trial for fraud concluded with witness testimony from Zac Prince, whose crypto lending firm BlockFi loaned $1.1 billion to Alameda before FTX’s collapse. From Alameda’s bizarre $65 billion “credit line” on FTX customer crypto to $100 million Chinese bribes, SBF gave the orders according to ex-staffers and members of Bankman-Fried’s inner circle. SBF shared far-off hopes of starting a new company as Ellison admitted FTX and Alameda’s fraud to almost 30 team members, one of whom recorded the whole affair and would eventually submit the audio clip as evidence to federal prosecutors, per InnerCityPress. With at least two government witnesses to go by trial day eight, CEO of crypto lender BlockFi Zac Prince resumed his testimony. On day seven of proceedings, Prince said BlockFi loaned $800 million to Alameda and went bust when Bankman-Fried’s crypto empire tumbled. CRYPTO CREEPS: In Bankman-Fried Trial "All Hands" Meeting Aud...

With the much-anticipated trial of Sam Bankman-Fried, founder and former CEO of FTX, set to commence today, here are all the key facts you need to know.  The long-awaited trial of Sam Bankman-Fried, the former CEO of bankrupt exchange FTX, is set to begin today. On Tuesday, Oct. 3, the trial will officially commence with jury selection at a federal court in lower Manhattan (Daniel Patrick Moynihan Courthouse at 500 Pearl Street). With this, the 31-year-old has a final chance to share his side of the story, as many of his former colleagues and associates have already pled guilty to several charges of fraud and money laundering.  The FTX case has arguably been one of the biggest scandals in the crypto world and even one of the biggest cases of financial fraud in U.S. history. So, as this historic trial begins, let’s briefly look at the key facts, the charges, and the potential sentencing for SBF.  The Three Unique Reasons Why Sam Bankman-Fried Will Likely Be Conv...

Alleged multi-billion-dollar fraudster Sam Bankman-Fried is reportedly preparing to offer a group of friends and former colleagues up to $1,200 an hour to testify on his behalf at his October trial. As reported by Bloomberg Law, according to a letter filed in New York earlier this week, the group of up to seven ‘expert witnesses’ will be asked to shed light on campaign finance laws, FTX and its software, and hedge fund affiliate Alameda Research. Among the witnesses are former Federal Election Commission chairperson Bradley Smith who’ll speak about US campaign finance laws and straw donors, and consultant Peter Vinella who’ll claim that many of the allegations levelled at  Bankman-Fried are, in fact, “widely-accepted practices in the financial services industry.” Professor Andrew Di Wu, another potential expert, would testify on blockchain technology and the 2022 Crypto market collapse . However, prosecutors could yet block these witnesses from taking the stand. While the U...