Do Hyeong Kwon says he did not do it in the Terraform Labs fraud case.

Do Kwon, a man from South Korea who was involved with cryptocurrency, went to court in New York. He said he was not guilty of the charges against him, which were about lying to people who invested money.

Kwon started a company called Terraform Labs that created a cryptocurrency called TerraUSD. Investors lost a lot of money when TerraUSD failed, even though Kwon said it was a safe investment.

Kwon's lawyer said he is not guilty of conspiracy, fraud, and money laundering. Kwon is currently in jail while waiting for his trial.

The charges against Kwon say that he tricked investors by saying his company had created new technology. He said this technology would make a new financial system that was separate from traditional banks.

However, the charges say that Kwon's technology did not work as he claimed, and he manipulated it to make it look successful. This manipulation was done to attract investors and deceive them about the true nature of Terraform's business.