The Globe and Mail reports in its Friday edition that Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost about $40-billion in 2022, pleaded not guilty on Thursday to U.S. criminal fraud charges this week. A Reuters dispatch to The Globe says that federal prosecutors in Manhattan on Thursday unsealed a nine-count indictment charging Mr. Kwon, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, with securities fraud, wire fraud, commodities fraud and money-laundering conspiracy. U.S. Magistrate Judge Robert Lehrburger in Manhattan Federal Court ordered Mr. Kwon, 33, detained after his lawyer, Andrew Chesley, said he would not seek bail at this time. He is expected back in court on Jan. 8. Mr. Kwon had agreed last June to pay a $80-million (U.S.) civil fine as part of a $4.55-billion (U.S.) settlement that he and Terraform reached with the Securities and Exchange Commission. In Thursday's indictment, the Manhattan U.S. Attorney's office alleged Mr. Kwon misled investors in 2021 about TerraUSD, telling investors that an algorithm known as "Terra Protocol" had restored the coin's value, when in fact he had artificially propped up its price.