Do Kwon’s US Court Hearing Delayed: A Simple Explanation
You might have heard about Do Kwon, the co-founder of Terraform Labs. He’s in some big legal trouble because of a cryptocurrency called TerraUSD (UST) that his company made. When UST crashed, many people lost a lot of money. Now, a US court has delayed a key hearing in his case because there’s just too much evidence to go through.
The Problem with TerraUSD
TerraUSD was supposed to be a stablecoin, which means it should have been worth about the same as the US dollar. But in 2022, it suddenly lost almost all its value, and people who invested in it lost around $40 billion[1]. The US government thinks Do Kwon knew that TerraUSD wasn’t as stable as he said it was, and that’s why they’re taking him to court.
The Delay and Lots of Evidence
Recently, the prosecutors gave Do Kwon’s lawyers a huge amount of new evidence. It’s so much that it’s taking a long time to go through it all. They gave them 600 gigabytes of data from Do Kwon’s phones, emails, and crypto transactions on February 27[2][3]. And they’re going to give them even more—four terabytes in total![2][3] Because there’s so much to look at, the court had to delay the hearing from March 10 to April 10[1][2].
What This Means
The delay makes things even more complicated. Do Kwon’s lawyers have a big job going through all that evidence. But both sides want to make sure they look at everything carefully before the trial. The jury trial is still scheduled for January 26, 2026[1][3]. And people who lost money because of Terraform Labs can still submit their claims until April 30[2].
The Future of Crypto
This case is important because it could set rules for how cryptocurrencies are used in the future. The outcome will not only decide Do Kwon’s fate but also show what happens when things go wrong with crypto. So, everyone’s watching to see what happens next.