Terraform Labs co-founder Do Kwon has pleaded not guilty to U.S. fraud charges after being extradited from Montenegro.

Terraforms Labs CEO Do Kwon spent the last day of 2024 getting extradited to the US, Reuters reports. Kwon faces charges in the US for "orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

Terraform Labs founder Do Kwon pleads not guilty to U.S. fraud charges linked to TerraUSD and Luna's $40B collapse in 2022.

Terraform Labs unsuccessfully fought the US indictment before filing for bankruptcy in the US in January 2024. Do Kwon agreed in June 2024 to pay an $80 million civil fine and be banned from crypto transactions as part of a $4.55 billion settlement Terraform reached with the US Securities and Exchange Commission.

Do Kwon, the co-founder of collapsed cryptocurrency startup Terraform Labs, will be extradited to the U.S. to face federal fraud charges.

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded not guilty on Thursday to U.S. criminal fraud charges after being extradited from Montenegro this week.

Terraform Labs Pte. co-founder Do Kwon pleaded not guilty to US fraud charges tied to the $40 billion collapse of the TerraUSD stablecoin.

Do Kwon, the co-founder of Terraform Labs, appeared before a US magistrate on January 2, 2025, and pleaded not guilty to multiple charges related to the collapse of the Terra ecosystem. This was Kwon’s first court appearance after his extradition to the United States,

Hyung Do Kwon walked into a Manhattan courtroom on Thursday, calm and collected, as if the $40 billion collapse of Terraform Labs wasn’t sitting on his shoulders. His plea? “Not guilty.” But The U.S.