Do Kwon, co-founder of Terraform Labs, will appear before federal court on Wednesday. He previously pleaded not guilty to criminal fraud charges.
Case Overview
Do Kwon faces criminal charges related to Terraform Labs, which was involved in the collapse of Terra Luna cryptocurrency. He is set to appear before Judge Paul A. Engelmayer.
Current Status of the Proceedings
The court conference has been adjourned multiple times since March as U.S. Department of Justice prosecutors requested more time to review new evidence. The case has not yet reached a major point; however, significant evidence is expected to be presented during the upcoming court hearings. The parties were required to file pretrial motions by July 1, 2025, with the jury trial rescheduled for February 17, 2026.
Terra Luna Classic Market and Predictions
The Terra Luna Classic community is closely monitoring the situation, as a new prosecutor may bring additional allegations. Discussions are also ongoing to reactivate a market module that was disabled during the Terra Luna crisis. LUNC prices increased by 1.7% in the last 24 hours, currently at $0.00005624, although trading volume has declined by 40%, indicating a drop in traders' interest.
The case of Do Kwon remains a focal point, and its outcome could significantly impact the Terra Luna Classic market and its community.
