Terraform Labs founder Do Kwon may miss the start of a key U.S. Securities and Exchange Commission (SEC) trial on fraud charges. According to Reuters, Kwon's lawyer, David Patton, stated that the entrepreneur would not be present at the start of the hearing due to the delay in his extradition. Kwon and his company, Terraform Labs, faced legal action last February when the SEC filed a lawsuit regarding the collapse of TerraUSD and Luna. 📉🏛️

The SEC alleges that Terraform and Kwon misled investors about the stability of TerraUSD and the use of the Terraform blockchain for transaction settlement on a Korean mobile payment app. Kwon vehemently denies the accusations. Kwon's legal situation was further complicated when he was arrested in Montenegro last March and subsequently faced related charges in the United States. It looks like Kwon's extradition won't happen until the end of March.