Terra Co-Founder Urges SEC to Postpone Trial: A Deep Dive

• Request for SEC Trial Delay by Terra Co-Founder, Do Kwon
• Kwon's Possible Extradition and Request for Postponement
• Details on the Legal Trouble Surrounding Terra Labs' Founder
• Trial Postponement Request Details
• Charges Against Do Kwon

Request for SEC Trial Delay by Terra Co-Founder, Do Kwon

In the wake of his detention in Montenegro, Terra's co-founder, Do Kwon, has appealed to the US Securities and Exchange Commission (SEC) to postpone the trial against him. Documents initially acquired by Inner City Press reveal that Kwon's legal representatives have pleaded for a deferment of the trial so that their client can be present.

Kwon's Possible Extradition and Request for Postponement

The legal documents indicate Kwon's extradition is likely to happen no earlier than February or March. As a result, Kwon's legal team is seeking a trial rescheduling to mid-March, enabling the founder of Terra Labs to be physically present. It is critical to note that Kwon's absence would prevent him from providing a testimony.

Details on the Legal Trouble Surrounding Terra Labs' Founder

The legal strife surrounding Do Kwon, the founder of Terra Labs, has become one of the most compelling narratives in the cryptocurrency sphere. Notably, Kwon was allegedly on the lam after accusations of manipulating the value of TerraUSD came to light, leading to his discovery in Montenegro under false documentation.

Kwon's detainment played a pivotal role in apprehending the sought-after fugitive, marking the beginning of his extradition process. However, the extradition, initially granted to the United States, was later revoked in December. Amid concerns about his potential absence, the Terra co-founder has since urged the SEC to postpone the trial.

Trial Postponement Request Details

In the official documents, Kwon requested a trial delay so he could be present. Should this appeal be denied, he plans to ask for jury instructions. Specifically, he wishes to provide information about his absence and the reasons why he couldn't testify. Contrarily, his request for the trial's delay aims to have the proceedings moved to March.

Charges Against Do Kwon

The SEC levied charges against Do Kwon in February concerning Terra's algorithmic stablecoin. After the company's dramatic collapse in May 2022, the SEC accused Terraform of executing a cryptocurrency securities fraud. In a parallel development, South Korean prosecutors are also pursuing Kwon's arrest on similar charges.

Edited by Jonathan Stoker