Hyung Do Kwon walked into a Manhattan courtroom on Thursday, calm and collected, as if the $40 billion collapse of Terraform Labs wasn’t sitting on his shoulders. His plea? “Not guilty.” But The U.S.

Terraforms Labs CEO Do Kwon spent the last day of 2024 getting extradited to the US, Reuters reports. Kwon faces charges in the US for "orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

Kwon, who had been detained in Montenegro since March 2023 was handed over to US authorities following a lengthy legal battle. His arrest came six months after Interpol issued a “red notice” warrant,