TerraUSD: Do Kwon's legal proceedings in the USA begin

The co-founder of Terraform Labs, Do Kwon, faced accusations of fraud related to the dramatic collapse of the TerraUSD stablecoin worth $40 billion for the first time before a New York federal court. His appearance on Thursday before U.S. Magistrate Judge Robert Lehrburger marks a decisive moment in an almost two-year dispute over whether the former crypto mogul should face criminal prosecution first in the U.S. or his home country of South Korea. Kwon was extradited to the U.S. earlier this week by authorities in Montenegro, where he was arrested in March 2023 for using a forged passport. The extradition was the latest act in a lengthy process that has garnered international legal and media attention.