According to Cointelegraph, a federal judge has scheduled a conference for Terraform Labs co-founder Do Kwon, where he may change his plea. The conference is set for Tuesday in the U.S. District Court for the Southern District of New York, as ordered by Judge Paul Engelmayer. This development suggests that Kwon might be preparing to alter his plea regarding some or all of the charges against him.
Initially, Do Kwon pleaded not guilty to nine felony counts in January, following a lengthy extradition process from Montenegro to the United States. The charges stem from his involvement with Terraform Labs, and the upcoming court appearance could mark a significant shift in the legal proceedings. Judge Engelmayer has instructed that Kwon should be ready to provide a narrative allocution, detailing the elements of the offenses to which he intends to plead guilty. The court has also encouraged legal counsel to assist Kwon in preparing a statement that can be presented openly during the plea proceedings.
This case continues to unfold, and further updates will be provided as new information becomes available.
Catherine
