Terra Classic

The US Securities and Exchange Commission (SEC) has launched a lawsuit against Terraform Labs and its founder, Do Kwon, over allegations of “orchestrating a multi-billion dollar crypto asset securities fraud”.Terraform Labs was the company behind the failed TerraUSD stablecoin, which collapsed last year and caused a wave of bankruptcies in the cryptocurrency industry.The SEC released a statement on February 16th, stating that Terraform Labs and its founder, Do Kwon, allegedly offered and sold an interconnected suite of crypto asset securities, many of which were sold in unregistered transactions. The SEC referred to the company’s algorithmic stablecoin, TerraClassicUSD (USTC), which ultimately failed, and its associated cryptocurrency, Terra Luna Classic (LUNC).Read our article to find out more about the <a href="https://crypto.ro/en/news/sec-sues-terraform-labs-and-do-kwon-for-alleged-cryptocurrency-fraud/" rel="noopener noreferrer nofollow">SEC lawsuit against Terraform Labs and Do Kwon</a>.

SEC Sues Terraform Labs and Do Kwon for alleged cryptocurrency fraud

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