10 hours ago
Terraform Labs laminitis Do Kwon whitethorn alteration his "not guilty" plea successful national tribunal tomorrow, a justice said Monday.
District Judge Paul Engelmayer, of the Southern District of New York, scheduled a hearing for Tuesday greeting successful an bid saying helium had been "advised that the suspect whitethorn participate a alteration of plea." Kwon antecedently pleaded "not guilty" to aggregate fraud and marketplace manipulation charges tied to the cognition and consequent illness of Terraform's Terra/Luna stablecoin ecosystem.
Kwon was extradited to the U.S. astatine the extremity of 2024 pursuing a lengthy back-and-forth with antithetic Montenegrin authorities. Kwon was detained successful Montenegro pursuing an effort to question connected a fake passport.
A proceedings was tentatively acceptable for adjacent January, aft prosecutors said they needed to analyse six terabytes of information during discovery. Judge Engelmayer's bid connected Monday did not specify whether Kwon would plead blameworthy to each of the charges oregon if prosecutors had travel to a plea woody with the defence team. His bid did accidental the defence attorneys "should, successful beforehand of the proceeding, reappraisal with the suspect immoderate plea statement oregon Pimentel letter."
Kwon and Terraform person already been recovered liable for civilian fraud successful a lawsuit brought by the U.S. Securities and Exchange Commission, and ordered to wage $4.5 cardinal successful penalties and disgorgement.
The Terra network, erstwhile worthy implicit $18 billion, collapsed successful a substance of days aft the algorithmic stablecoin TerraUSD (UST) mislaid its peg and its companion token Luna (LUNA) mislaid astir of its value.
An lawyer for Kwon did not instantly instrumentality a petition for comment.
Join the crypto argumentation speech Sept. 10 successful D.C. — Register present for CoinDesk: Policy & Regulation.
English (US) 