Do Kwon, co-founder of Terraform Labs, pleaded not guilty to fraud charges in a Manhattan courtroom. The charges stem from the collapse of TerraUSD in May 2022, which was a significant event impacting the cryptocurrency market.
Kwon is accused of misleading investors about the capabilities of the Terra blockchain. This alleged misinformation led to a dramatic $40 billion crash, significantly affecting not only investors but also the broader crypto market.
