Terra Classic

<ul><li>Terraform Labs and Do Kwon agreed to a $4.47 billion settlement with the SEC over securities fraud allegations.</li><li>The settlement included $3.5 billion in disgorgement and $466 million in pre-judgment interest.</li><li>Terraform Labs and Kwon are prohibited from selling or acquiring cryptocurrency assets following the settlement.</li></ul>Terraform Labs, has agreed a <a href="https://x.com/BLaw/status/1800937286227407058?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1801000922711011562%7Ctwgr%5Edc5b0b67670571b78d1c2d34a5f5fa8a3835db46%7Ctwcon%5Es3_&amp;ref_url&#61;https%3A%2F%2Fcoingape.com%2Fcoinbase-clo-criticizes-sec-settlement-with-kwon-terraform%2F" rel="noopener noreferrer nofollow">$4.47 billion</a> settlement with the SEC in a civil fraud case. Earlier the firm destroyed US$40 billion in investor assets and shook the cryptocurrency industry.SEC&#39;s Settlement with Terraform LabsTerraform Labs, the company behind the failed LUNA and TerraUSD, has <a href="https://www.fxstreet.com/cryptocurrencies/news/terraform-set-to-pay-447-billion-in-settlement-to-the-sec-over-lawsuit-202406122322" rel="noopener noreferrer nofollow">agreed</a> to a settlement with the SEC over a lawsuit <a href="https://cryptotale.org/sec-identifies-jump-trading-as-the-third-party-in-terrausds-price-manipulation/" rel="noopener noreferrer nofollow">filed</a> by co-founder Do Kwon for violating securities laws.The settlement includes a total of $3.5 billion and pre-judgment interest of $466 million, making the company&#39;s total owed $4.47 billion.Additionally, Do Kwon was also ordered to pay $204 million in settlement fees. The settlement deal prohibits Kwon and Terraform Labs from selling or acquiring cryptocurrency assets, including tokens in the Terra ecosystem.Related: <a href="https://cryptotale.org/terraform-labs-faces-5-3-billion-fine-for-misleading-crypto-investors/" rel="noopener noreferrer nofollow">https://cryptotale.org/terraform-labs-faces-5-3-billion-fine-for-misleading-crypto-investors/</a><a href="https://cryptotale.org/sec-and-terraform-labs-reach-4-47-billion-settlement-in-civil-fraud-case/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

SEC and Terraform Labs Reach $4.47 Billion Settlement in Civil Fraud Case

CryptoTale

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