Wednesday

Terraform Labs Pte. has agreed to pay $4.47 billion to settle a civil complaint launched by the US Securities and Exchange Commission following the firm’s 2022 collapse, which wiped out $40 billion in investor assets and shocked the cryptocurrency industry.
The entire remedies include disgorgement fines of almost $3.6 billion, a civil penalty of $420 million, and prejudgment interest of nearly $467 million. Do Kwon is liable for $110 million in disgorgement penalties and roughly $14.3 million in pre-judgment interest fines following the settlement plan.
The SEC on Wednesday requested that a federal judge in New York accept the deal with Terraform, which was reached after a jury found the business and co-founder Do Kwon responsible for the collapse after a two-week trial.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/05/31/terraform-labs-do-kwon-to-reach-a-settlement-with-us-sec/" target="_blank" rel="noopener noreferrer nofollow">Terraform Labs, Do Kwon to Reach A Settlement with US SEC</a>
</blockquote>

Breaking News: Terraforms Resolves SEC Suit with $4.47B Settlement

The Crypto Times

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