Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court
The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and co-founder Do Kwon for their role in the $40 billion implosion of the Terra ecosystem in 2022. Terraform Labs and Kwon were found liable on civil fraud charges earlier this month, when a Manhattan jury concluded that they had misled investors about the stability of their so-called “algorithmic” native stablecoin, Terra USD (UST), and the use cases for the Terra blockchain.
Source
Join @Crypto_Publisher
Contact us @Crypto_Marcus
