Delayed Hearing: Do Kwon’s Legal Battle Continues
In a big update to the ongoing case against Do Kwon, a U.S. court has pushed back an important hearing. This delay comes as prosecutors hand over a massive amount of new evidence, totaling four terabytes, which they say needs more time for Kwon’s defense team to review[1][2][3]. This case has grabbed attention worldwide because it involves allegations of fraud related to the collapse of Terraform Labs’ stablecoin, TerraUSD, which caused big financial losses for investors[1].
What Happened So Far?
Do Kwon, sent from Montenegro to the U.S. on December 31, 2024, pleaded not guilty on January 2, 2025, to many fraud-related charges[1]. These charges are because of the failure of TerraUSD in 2022, which caused about $40 billion in losses for investors. The Securities and Exchange Commission (SEC) also got involved, accusing Kwon of lying about how stable Terraform Labs’ ecosystem was[1].
Why Was the Hearing Postponed?
The meeting, originally set for March 10, has been moved to April 10, 2025, after a request from the U.S. government[2][3]. This decision was made to give Kwon’s defense team enough time to look at the new evidence. On February 27, prosecutors gave them 600 gigabytes of evidence, including data from Kwon’s phones, emails, and crypto transactions[2][3]. They also plan to give an extra four terabytes of evidence by the end of the following week[1][2].
What’s Next?
Even though the hearing was postponed, the jury trial is still set for January 26, 2026[1][3]. People who lost money because of the Terraform Labs collapse have until April 30, 2025, to make a claim for their losses[1]. The delay makes this already complicated case even more so, as Kwon’s defense team has a tough job ahead of them before the trial[1].
A Big Moment in Crypto History
The delay in Do Kwon’s hearing is a big moment in the legal fight against Terraform Labs. As Kwon’s defense team looks into the vast amount of new evidence, the case keeps the crypto community and others on the edge of their seats. The outcome of this case will not only decide Kwon’s fate but also set a precedent for future legal cases involving crypto. With the trial still over a year away, the world watches as this story unfolds, raising questions about how crypto should be regulated and kept transparent.
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Sources:
– CoinMarketCal
– PANewsLab
– ChainCatcher
– CryptoCraft
