**Prosecutors Seek Delay in Do Kwon’s Trial as New Evidence Emerges; Rescheduled for April 10, 2025**
In a significant development, U.S. prosecutors have requested a postponement of Do Kwon’s trial after discovering an impressive four terabytes of new evidence. The trial is now rescheduled for April 10, 2025, allowing the defense ample time to review this extensive data. A federal judge in Manhattan has agreed to delay the case against the former CEO of Terraform Labs, responding to the prosecution’s need for additional time to sift through this substantial trove of evidence. Originally set for March 6, the hearing will now take place on April 10, as ordered by Judge Paul Engelmayer. This change follows a letter sent to the court on February 27, which outlined the expected evidence production.
The newly uncovered evidence includes Kwon’s personal and professional emails, SEC reports, and materials from third-party sources. The government has already provided the defense with over 600 gigabytes of information, with the remaining four terabytes expected to be disclosed shortly. The court has granted extra time to ensure both sides can thoroughly review this large volume of information.
In addition, the government’s recent filing highlights four cell phones seized from Kwon during his arrest in Montenegro. These devices contain crucial information that could significantly influence the prosecution’s case. However, the government has yet to release any further evidence obtained from foreign authorities. The U.S. Department of Justice has confirmed that there are no transcripts or records from interviews conducted by other governments. So far, the government has made public two SEC interviews involving Kwon, including transcripts from a July 2021 meeting and depositions from August 2022.
The upcoming hearing will be pivotal in determining how this newly discovered evidence will impact the case. According to the revised timeline, pretrial motions are set to be heard on July 1, with a reply deadline of August 11. The final hearing on motions in limine is scheduled for January 2026, paving the way for a trial shortly thereafter. The prosecution is committed to completing the discovery process well in advance, ensuring both parties are adequately prepared.
The legal saga surrounding Terraform Labs is likely to extend into 2025, adding complexity to an already high-profile case. The collapse of Terraform Labs and its stablecoin, TerraUSD, has been one of the most significant scandals in the crypto market, resulting in billions of dollars lost by investors and prompting global regulatory scrutiny. Kwon, who was arrested last year in Montenegro, faces fraud-related charges in both the U.S. and South Korea. The issue of extradition remains a contentious legal matter, with both countries eager to secure his custody. Recent judicial developments indicate that this case will continue to unfold well into 2025, keeping investors and regulators on high alert. With new evidence continuing to emerge, the legal proceedings against Terraform Labs are far from over. The next hearing promises to be a crucial step in this ongoing saga.
