Terraform Labs co-founder Do Kwon's trial is scheduled for January 26, 2026, in the U.S. District Court for the Southern District of New York. Kwon is facing charges of criminal fraud related to the $40 billion collapse of the TerraUSD (UST) stablecoin and its sister token LUNA in 2022. The trial, expected to last four to eight weeks, will examine various fraud charges, including securities and wire fraud, with Kwon potentially facing up to 130 years in prison if convicted. In addition to these charges, Kwon is dealing with multiple civil lawsuits and was recently found liable for fraud by a jury. The Terra collapse, resulting in massive financial losses and investor panic, is viewed as a significant event in crypto history. Kwon evaded authorities before being apprehended in Montenegro and extradited to the U.S. The case could have substantial implications for accountability within the largely unregulated crypto space and may influence future regulations.

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