Key Takeaways
- Do Kwon’s trial over TerraUSD collapse is about for January 26, 2026, permitting time for proof processing.
- The trial follows a $4.5 billion SEC settlement and Kwon’s legal responsibility in a civil fraud case.
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Do Kwon’s legal trial over the $40 billion TerraUSD collapse will start on January 26, 2026, within the Southern District of New York.
Prosecutors are reviewing six terabytes of proof offered by Montenegrin authorities after his December 2024 extradition.
Lead prosecutor Jared Lenow referred to as the invention course of “large,” citing challenges in decrypting information and translating Korean supplies.
Decide Paul Engelmayer likened the info quantity to “backing up a U-Haul” to the courthouse.
The Terraform Labs co-founder pleaded not responsible to a nine-count indictment together with securities fraud, wire fraud, commodities fraud, and cash laundering conspiracy.
Prosecutors allege Kwon deceived traders about TerraUSD’s algorithmic stability and manipulated markets. The Might 2022 collapse of Terraform Labs triggered broader market instability that contributed to FTX’s downfall.
The legal proceedings observe Terraform Labs’ chapter and a $4.5 billion SEC settlement in 2023.
A New York jury discovered Kwon and Terraform Labs liable within the SEC’s civil fraud case in April 2024. The legal trial is predicted to final 4 to eight weeks.
Decide Engelmayer gave Kwon’s protection crew, led by Michael Ferrara, one week to think about an earlier 2025 trial date.
The following standing convention is about for March 6, 2025, at 11 a.m. japanese time. Kwon stays in detention with out bail after spending practically two years in Montenegrin custody.
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