Wednesday

Terra

Coin

<ul class="news-points">
 <li>Terraform Labs needs to pay $4.47 billion to the SEC.</li>
 <li>Do Kwon, personally, has to pay $80 million as a civil fine and $204 million to Terraform.</li>
 <li>The judgment is pending approval with US District Judge Jed Rakoff.</li>
</ul>
Terraform Labs, the company responsible for the implosion of the TerraUSD stablecoin and its sister token LUNA, has agreed to a $4.47 billion <a href="https://www.reuters.com/legal/crypto-firm-terraform-labs-agrees-pay-447-bln-resolve-dispute-with-sec-2024-06-12/" target="_blank" rel="noopener noreferrer nofollow">settlement</a> with the U.S. Securities and Exchange Commission.&nbsp;
The firm and its founder, Do Kown, held accountable for the 2022 collapse of the Terra ecosystem thereby wiping off billions from the crypto sector in 2022, previously faced multiple charges from the SEC.
Terraform Labs will pay the SEC to compensate investors who lost approximately $40 billion in the stablecoin ecosystem’s collapse. The judgment, filed Wednesday in Manhattan Federal Court, awaits approval from the U.S. District Judge, Jed Rakoff.&nbsp;
The judgment includes $4.05 billion in disgorgement plus interest and a $420 million civil fine. However, since Terraform Labs filed for bankruptcy in January, the firm is unlikely to be able to pay the substantial fine. As a result, the …
The post <a href="https://coinedition.com/terra-labs-settles-with-sec-for-4-47b-do-kwon-banned/" rel="noopener noreferrer nofollow">Terra Labs Settles with SEC for $4.47B (Do Kwon Banned)</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Terra Labs Settles with SEC for $4.47B (Do Kwon Banned)

Coin Edition

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