Do Kwon Pleads Not Guilty to U.S. Fraud Charges
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Terraform Labs co-founder Do Kwon entered a U.S. courtroom on Thursday for the first time following his extradition from Montenegro and pleaded not guilty to multiple fraud charges. Federal prosecutors in Manhattan have charged Kwon, 33, with securities fraud, wire fraud, commodities fraud, conspiracy, and a newly added count of money laundering conspiracy. These charges are rooted in allegations that he misled investors about the stability and security of TerraUSD, a stablecoin that was designed to maintain a value of $1.
