Do Kwon’s US Court Hearing Delayed: A Simple Explanation
Do you remember the big crash of TerraUSD (UST), a cryptocurrency, last year? It caused a lot of people to lose money. The man behind this, Do Kwon, is now in trouble with the law. Let’s find out what’s happening in his case and why a big hearing was delayed.
What’s the case about?
The US government thinks Do Kwon lied about how stable TerraUSD was. When the price of UST dropped, many people lost their investments. The government says this was because Kwon tricked them. But Kwon says it was just a big surprise and not his fault.
Why was the hearing delayed?
The hearing was delayed because the prosecutors gave Kwon’s lawyers a huge amount of new evidence. They gave them 600 gigabytes of data from Kwon’s phones, emails, and crypto transactions. They even said they have more evidence coming soon, which will be four terabytes in total! This is a lot of information to go through, so the hearing had to be delayed to give the defense time to look at it all.
What happens next?
The hearing is now scheduled for April 10. The jury trial is still set for January 26, 2026. If you lost money because of the TerraUSD crash, you can still submit a claim for your losses until April 30. The SEC, which protects investors, has also been involved in this case and has already fined Kwon and Terraform Labs $4.5 billion.
Why is this important?
This case is important because it’s one of the biggest cryptocurrency crashes ever. How the law handles this case will help decide how cryptocurrencies are treated in the future. It’s like a new chapter in how we deal with cryptocurrency regulation.
So, that’s what’s happening with Do Kwon’s case. It’s a big deal, and it’s taking a long time because there’s so much evidence to go through. But it’s important for the future of cryptocurrency and how we protect people who invest in it.