Terra founder Do Kwon's trial has been postponed..
Terraform Labs founder Do Kwon's criminal trial has taken an unexpected turn. The trial has been postponed until January 26, 2026. The US Attorney's Office reported that the number of victims affected by the collapse of the TerraUST stablecoin could exceed 1 million. Kwon, who faces nine charges related to the collapse of the failed algorithm-based stablecoin project, could face up to 130 years in prison if convicted. Do Kwon's case, which is in its second hearing in the Federal Court for the Southern District of New York, has taken on a new dimension with Judge Paul Engelmayer's unprecedented decision. The defense team has been given a year to prepare to examine the data obtained from four phones of the South Korean entrepreneur who was extradited from Montenegro to the US, as well as a six-terabyte pile of evidence. Do Kwon Faces 130 Years in PrisonThe trial of Do Kwon is being heard in the same court as the trials of other high-profile names in the crypto world, such as FTX’s Sam Bankman-Fried and Celsius’ Alex Mashinsky. Kwon’s trial, which is alleged to have colluded with Jump Crypto before the stablecoin crash, will bring to light the behind-the-scenes story of the TerraUST project. In a previous lawsuit filed by the US Securities and Exchange Commission (SEC), Kwon and his company were forced to pay a $4.5 billion fine. This decision could also set a precedent in criminal cases. Prosecutor Jared Lenow stated that the trial could last six weeks, similar to the case of FTX founder Sam Bankman-Fried. Judge Engelmayer called on both sides to consider settlement talks.
What do you think about the trial that was postponed for 1 year? 😁🤔
