Do Kwon Pleads Not Guilty to Fraud Following Extradition to US: Reuters

Do Kwon, the founder of the failed Terra Luna crypto ecosystem, pleaded not guilty to multiple fraud charges after being extradited from Montenegro to the U.S. The collapse of his projects, including the algorithmic stablecoin terraUSD, resulted in a staggering $40 billion loss. Federal prosecutors allege Kwon misled investors regarding the stablecoin's value maintenance algorithm. Currently detained, he is set to return to court on January 8, 2024. Learn more about the implications of Kwon’s case on the cryptocurrency landscape and investor trust. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk