Delayed Hearing: Do Kwon’s Legal Battle Continues
In a big twist in the ongoing case against Terraform Labs co-founder Do Kwon, a U.S. court has pushed back a key hearing. This delay comes as prosecutors share a huge amount of new evidence, about four terabytes, which they say needs more time for Kwon’s defense team to look at[1][2][3]. This case has people talking all around the world because it’s about claims of fraud that led to big money losses for people who invested in Terraform Labs’ special kind of digital money called TerraUSD[1].
The Story So Far
Do Kwon was brought to the U.S. from Montenegro on December 31, 2024, and on January 2, 2025, he said he didn’t do anything wrong. He’s facing charges because TerraUSD, a kind of digital money that was supposed to keep its value, lost almost all its worth in 2022. This caused about $40 billion in losses for people who invested in it[1]. The people who make sure companies follow the rules, called the SEC, also said Kwon did something wrong by saying TerraUSD was more stable than it really was[1].
More Time Needed
The meeting that was going to happen on March 10 has been moved to April 10, 2025. The U.S. government asked for this change so Kwon’s defense team can have enough time to look at all the new evidence[2][3]. On February 27, prosecutors gave the defense team 600 gigabytes of evidence, like messages from Kwon’s phones and computers, and records of crypto transactions[2][3]. They also plan to give them another four terabytes of evidence by the end of next week[1][2].
What’s Next?
The trial is still set to start on January 26, 2026[1][3]. People who lost money because of what happened with Terraform Labs have until April 30, 2025, to say they want to get some money back[1]. This delay makes the case even more complicated, and Kwon’s defense team has a lot of work to do before the trial starts[1].
A Big Moment in Crypto History
The delay in Do Kwon’s hearing is a big moment in the fight against him in the courts. As his defense team looks at all the new evidence, people in the crypto world and beyond are watching this case very closely. The result of this case will not only decide what happens to Kwon but also set an example for other cases about crypto in the future. With the trial still over a year away, everyone is waiting to see what happens next in this story, which asks big questions about how crypto should be watched over and how fair it should be.
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Sources:
– CoinMarketCal
– PANewsLab
– ChainCatcher
– CryptoCraft