The case of Terraform Labs founder Do Kwon continues to evolve, with his lawyers seeking an extension for pretrial motions.
Reason for Extension
Do Kwon's lawyers have filed a petition with the court for a two-week extension to submit pretrial motions. The petition stated that the ongoing 'productive negotiations' between the defense and prosecution necessitated the extension. The defense noted that the request was made at the last minute due to the current deadline expiring on July 15. The prosecution agreed to the extension request.
Situation with Prosecution Evidence
The prosecution previously submitted four terabytes of new evidence for the defense to review. In April, prosecutors requested to postpone the hearing until February 17, 2026, a request that was granted by Judge Engelmayer. At that hearing, the prosecution confirmed that a cryptocurrency-friendly internal memo related to the closure of the Justice Department's investigative unit would not affect the charges against Do Kwon.
Charges Against Do Kwon
Do Kwon faces nine federal charges, including securities fraud and conspiracy to commit money laundering, in connection with the collapse of Terraform Labs. He was extradited to the United States on December 31, 2024, following a lengthy extradition process in Montenegro and pleaded not guilty at his initial hearing.
The case continues to develop, and legal proceedings against Do Kwon will retain attention as actions unfold from both the defense and prosecution.
