PANews reported on August 12 that, according to Coindesk, Terraform Labs founder Do Kwon may change his previous 'not guilty' plea at the hearing scheduled for 10:30 PM on August 12.
It is reported that Kwon previously faced multiple fraud and market manipulation charges due to the operation of Terraform and the collapse of the Terra/Luna stablecoin network, and has been ordered by the U.S. Securities and Exchange Commission to pay $4.5 billion in fines and restitution in a civil case. The trial was originally scheduled to start in January next year, and the prosecution needs to review 6TB of data. Kwon was extradited to the United States from Montenegro last year after being detained for attempting to leave the country with a false passport. Before the trial, the judge required the defense attorney to review any plea agreements or related documents with the defendant.
