Do Kwon, co-founder of the failed cryptocurrency firm Terraform Labs, appeared in a Manhattan court after being extradited from Montenegro to face criminal charges.
A new indictment adds a money laundering count to earlier charges, including securities and wire fraud, related to Terraform's $40bn collapse in 2022.
Prosecutors allege Kwon misled investors, regulators, and the public about Terraform’s products, which were manipulated to appear functional.
Terraform’s collapse destabilised the crypto market and triggered investigations.
Kwon, previously arrested in Montenegro with a forged passport, denies wrongdoing and faces up to 130 years in prison if convicted.
His next court date is January 8. The collapse also led to a $4.5bn SEC penalty against Kwon and Terraform.