Friday, June 27, 2025

With Do Kwon Trial Now Set for Feb 17 2026 Judge Asks of GENIUS Act More Papers July 1


by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, June 25 – After the collapse of the crypto firm Terraform Labs, Inner City Press covered the SEC's trial against it and Do Kwon - except that Kwon was in Montenegro.  Now, Do Kwon book here

 Early on January 2, 2025 Inner City Press learned and vlogged that Kwon would be presented later in the day before U.S. District Court for the Southern District of New York Magistrate Judge Robert W. Lehrburger.    

The superseding indictment, Inner City Press immediately put it online here

Just after noon Do Kwon was presented and pled not guilty, was detained, thread

The case was reassigned to Judge Paul A. Engelmayer to whom the US Attorney's Office on January 6 directed a victims' notice motion, on Patreon here

On January 8 Judge Engelmayer held a conference and set a January 26, 2026 trial date, among many other things. Inner City Press pressed and live tweeted, thread

On February 27-28, the US Attorney's Office put in a four page letter describing discovery (including documents from a country left unnamed), and proposed adjourning the upcoming status conference. Filing on Patreon here

On April 10 Inner City Press live tweeted the status conference at which trial was pushed back to February 17, next conference to June 12, and this:

Judge Engelmayer: Let's turn to the Deputy Attorney General's memo and if it has any implication for the case.

On June 25 Inner City Press covered a brief conference in US v. Do Kwon, tweets here including

Judge Engelmayer: I have asked if Judge Rakoff's rulings in the civil case SEC v Terramar Labs and Do Kwon are binding on me...

Do Kwon's lawyer: We say no.

Judge: Not surprising.

Do Kwon's lawyer: There are issues we should litigate far in advance of trial, for example about the money laundering charge

Judge: That's helpful. On the securities issue, I am mindful of the GENIUS Act

More / extra on X for Subscribers here, Patreon (with earlier US case status summary) here

  Amid talk of the Administration's crypto executive order and now DOJ memo - and before the SEC moved to drop its case against Coinbase - Inner City Press published a book: "Crypto Death Spiral: Could a Luna Rise Again?" by Matthew Russell Lee, ebook here, audiobook here.

Watch this site

The case is USA v. Kwon, 1:23-cr-151 (Engelmayer)

***

Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

sdny

Feedback: Editorial [at] innercitypress.com