Do Kwon, co-founder of Terraform Labs, pleaded not guilty to multiple charges, including securities fraud and money laundering, during his first legal hearing in the United States on January 2, 2025. The hearing took place in Manhattan before Magistrate Judge Robert Lehrburger following Kwon's extradition from Montenegro. The indictment alleges that Kwon orchestrated schemes to defraud cryptocurrency investors, connected to the collapse of the Terra ecosystem in 2022. This hearing represents a significant development in Kwon's ongoing legal battle, which has included the possibility of his extradition to South Korea. As the case progresses, further details are expected to emerge.
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