Do Kwon, founder of Terraform Labs, is officially heading to trial in January 2026. The charges? Criminal fraud tied to the $40 billion collapse of TerraUSD and Luna, two cryptocurrencies that turned the crypto market upside down in 2022.

Terraform Labs Pte. cofounder Do Kwon will go on trial early next year in the US on criminal fraud charges tied to the $40 billion collapse of the TerraUSD stable coin in 2022.Most Read from BloombergNYC Condo Owners May Bear Costs of Landmark Green Building LawNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?

NEW YORK, NY — Terraform Labs co-founder and former CEO Do Kwon’s criminal fraud trial in the U.S. has been tentatively scheduled for next January, allowing prosecutors and Kwon’s defense attorneys adequate time to review the “massive” six-terabyte trove of data expected to be produced during the discovery process.

Do Kwon's trial on TerraUSD collapse charges is set for Jan 2026 in NYC. Prosecutors grapple with vast evidence and translation challenges.

Terraform Labs co-founder pleaded not guilty in the first U.S. court appearance. Do Kwon was extradited to the U.S. after losing a battle to