Do Kwon’s Hearing Delayed: A Big Case Gets Bigger
In a major turn of events, a U.S. court has pushed back a key hearing in the Do Kwon case. 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 the world’s attention because it’s about the collapse of a digital currency called TerraUSD, which caused big money losses for investors[1].
The Story So Far
Do Kwon, who was brought from Montenegro to the U.S. on December 31, 2024, pleaded not guilty on January 2, 2025, to several charges of fraud[1]. These charges are because of the failure of TerraUSD in 2022, which cost investors about $40 billion[1]. The U.S. Securities and Exchange Commission (SEC) also thinks Kwon tricked people into believing TerraUSD was stable[1].
A New Twist: More Evidence
The meeting that was supposed to happen on March 10 has now been moved to April 10, 2025, because the U.S. government asked for it[2][3]. This is so Kwon’s lawyers can have enough time to look at the new evidence. On February 27, prosecutors gave them 600 gigabytes of evidence, including messages from Kwon’s phones, emails, and crypto transactions[2][3]. They’re also going to give them another four terabytes of evidence soon[1][2].
What’s Next?
Even though the hearing is delayed, the jury trial is still set for January 26, 2026[1][3]. People who lost money because of Terraform Labs have until April 30, 2025, to say they want their money back[1]. This delay makes the case even more complicated, as Kwon’s lawyers have a lot of work to do before the trial[1].
A Big Moment in Crypto History
The delay in Do Kwon’s hearing is a big moment in the long legal fight around Terraform Labs. As Kwon’s lawyers look at all the new evidence, this case keeps getting more interesting. The outcome will not only decide Kwon’s future but also set a new standard for other crypto cases. With the trial over a year away, everyone is watching to see what happens next, as this case raises big questions about how crypto should be regulated and made more transparent.
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Sources:
– CoinMarketCal
– PANewsLab
– ChainCatcher
– CryptoCraft