Montenegro on Tuesday extradited Terraform Labs co-founder Do Kwon to the United States, where he faces charges of having deceived investors about the stability of the TerraUSD cryptocurrency and how an app used the Terraform blockchain.

Terra Classic (CRYPTO: LUNC), the native token of the Terra ecosystem, rallied on New Year’s Day amid disgraced co-founder Do Kwon’s extradition from Montenegro to the U.S. Kwon, co-founder of Terraform Labs,

Terraform Labs co-founder Do Kwon has pleaded not guilty to U.S. fraud charges after being extradited from Montenegro.