Do Kwon will go on trial in Manhattan on Monday

Jinse Finance reports that Terraform Labs and its founder Do Kwon will go on trial in Manhattan on Monday, with regulators accusing them of lying to investors before the collapse of the company's two cryptocurrencies, LUNA and UST, which disrupted the market in 2022. Regulators also accused them of falsely claiming that Terraform’s blockchain was used in a popular mobile payment app in South Korea. Do Kwon will not attend the court hearing. He was arrested in Montenegro last March and is awaiting extradition to his native South Korea, where he faces criminal charges. A Montenegrin court on Friday postponed his extradition after the country's prosecutor's office raised concerns about the process.