The federal judge overseeing the Do Kwon case has scheduled a hearing for Tuesday, where the co-founder of Terraform Labs may "change his plea."
On Monday, U.S. District Judge Paul Engelmayer in the Southern District of New York ordered all parties to appear in court on Tuesday, indicating that Kwon may be preparing to change some or all of his guilty plea.
The co-founder of Terraform was initially extradited to the U.S. in January after a months-long battle in the Montenegro extradition court and pleaded not guilty to nine felony charges. Source
Engelmayer stated, "[The defendant] should be prepared to provide a detailed statement that includes all elements of the charges to which he is pleading guilty." "For clarity and efficiency, the court encourages defense counsel to assist the defendant in drafting a statement that can be publicly read during the plea process."
This event is developing, and more information will be added as it becomes available.