2024-06-13 06:16:38

Terraform Labs Settles $4.47B SEC Lawsuit for Crypto Fraud

Terraform Labs and its former CEO have agreed to pay $4.47 billion in disgorgement fines, civil penalties, and prejudgment interest to settle a civil lawsuit with the SEC following the company's collapse. This settlement, if approved by a judge, would also restrict them from trading crypto asset securities in the future.

The agreement stems from allegations of civil fraud related to cryptocurrencies Luna and TerraUST, causing significant losses to investors and leading to a unanimous jury decision against the company and its co-founder. The SEC views this settlement as a strong message deterring misconduct under federal securities laws in the crypto industry.

The press radar on this topic:

Cointelegraph.com News
12. Juni 2024 um 17:35

BREAKING: Terraform to pay $4.47B to resolve SEC civil lawsuit

Finance
Economy
Terraform Labs has agreed to pay $4.47 billion to the SEC to settle a civil lawsuit following its collapse in 2022, with Do Kwon also facing significant penalties. The settlement includes disgorgement fines, civil penalties, and prejudgment interest totaling roughly $4.47 billion.
CoinDesk
12. Juni 2024 um 18:10

Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

Finance
Terraform Labs and its former CEO Do Kwon agreed to pay a total of $4.5 billion in disgorgement and civil penalties as part of a settlement agreement with the SEC. The agreement, if approved by a judge, would also ban them from buying or selling crypto asset securities.
The Defiant
12. Juni 2024 um 20:52

Terraform Labs Settles With SEC For $4.4 Billion

Finance
Terraform Labs, the company behind the defunct UST stablecoin, settles with the SEC for $4.47 billion after being found liable for civil fraud. The agreement follows a unanimous jury decision two months ago that accused the company and its co-founder of misleading investors and acting recklessly.
EL PAÍS América Colombia: el periódico global... en EL PAÍS
12. Juni 2024 um 23:31

Terraform to pay 4.5 billion dollars for fraud with cryptocurrencies Luna and TerraUST

Finance
Technology
Terraform Labs has reached an agreement with the SEC to pay 4.474 billion dollars for the fraud with cryptocurrencies Luna and TerraUST, which caused losses of around 40 billion dollars to investors. The agreement includes restitution, interest, and fines, and prohibits Terraform's co-founder from engaging in activities in the cryptocurrency world again. The SEC believes this agreement sends a deterrent message to those involved in misconduct under federal securities laws.
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