Do Kwon, the co-founder of Terraform Labs, may change his plea during a scheduled court conference in New York on Tuesday, August 12. Initially, Kwon pleaded not guilty to multiple charges, including securities fraud, market manipulation, money laundering, and wire fraud in January. This development comes after a lengthy extradition process from Montenegro to the U.S. where he faced nine felony counts. The presiding federal judge, Paul Engelmayer, ordered the parties to appear in court, signaling that a change in plea could be discussed. The situation remains dynamic and further updates will be provided as they become available.

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