Terra Founder Do Kwon’s Trial Process and Defense

The founder of Terraform Labs, Do Kwon, despite being under house arrest in Canada, extradition requests from the United States and South Korea have been canceled by local courts. Kwon, known as a crypto scammer, is believed to have convinced people to protect him. The legal battle between Terraform Labs and the SEC continues during his trial in the United States. Current Status of Terra Case The case between Terraform Labs and the SEC continues in the United States. Kwon is accused of defrauding many people in America and his lawyers are defending him. SEC lawyers claim that Terraform’s business model is based on lies, while Terraform lawyers argue that Kwon has always been honest and the SEC has distorted the information. Terra Defense Strategy In February 2023, the SEC filed a lawsuit against Terraform, accusing the company of crypto asset securities fraud. Pellegrino, Terraform’s attorney, states that Kwon’s statements […]

Terra Founder Do Kwon’s Trial Process and Defense

The founder of Terraform Labs, Do Kwon, despite being under house arrest in Canada, extradition requests from the United States and South Korea have been canceled by local courts. Kwon, known as a crypto scammer, is believed to have convinced people to protect him. The legal battle between Terraform Labs and the SEC continues during his trial in the United States.

Current Status of Terra Case

The case between Terraform Labs and the SEC continues in the United States. Kwon is accused of defrauding many people in America and his lawyers are defending him. SEC lawyers claim that Terraform’s business model is based on lies, while Terraform lawyers argue that Kwon has always been honest and the SEC has distorted the information.

Terra Defense Strategy

In February 2023, the SEC filed a lawsuit against Terraform, accusing the company of crypto asset securities fraud. Pellegrino, Terraform’s attorney, states that Kwon’s statements are true, but the SEC has misinterpreted the information. Kwon appealed the extradition decisions and was found in his favor by Canadian courts.

Points to Consider

Do Kwon is currently under house arrest in Canada and extradition requests have been rejected.
In the trials in the United States, Terraform Labs is accused of fraud by the SEC.
The SEC alleges that Terraform’s business model is based on lies, while the defense team denies these allegations.
Kwon was arrested on charges of using fake travel documents and successfully appealed the extradition decisions.
Despite the downturn of the Terra ecosystem, the LUNA Coin price continues to find buyers.

While Do Kwon is absent from his hearings and is free in Canada, the price of LUNA Coin is trading at $0.92. This signals the drop of the new distributed LUNA Coins after the ecosystem’s decline.

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