April

Coin

<ul class="news-points">
 <li>Terraform Labs and Do Kwon settle fraud charges with the SEC; filings due by June 12.</li>
 <li>LUNA’s market price surged 20% post-settlement, reflecting renewed investor confidence.</li>
 <li>Kwon’s extradition issues between the U.S. and South Korea remain unresolved.</li>
</ul>
Terraform Labs and its CEO, Do Kwon, have reached a tentative settlement with the U.S. Securities and Exchange Commission (SEC) over fraud charges.
This development follows a jury verdict in April that found Kwon and his company liable for misleading investors about their cryptocurrency offerings, especially the LUNA cryptocurrency and TerraUSD (UST) stablecoin.
The settlement agreement, reported <a href="https://www.reuters.com/legal/terraform-labs-do-kwon-agree-settle-sec-fraud-case-2024-05-30/" target="_blank" rel="noopener noreferrer nofollow">by Reuters</a>, suggests financial restrictions on Kwon’s future financial activities. Details remain confidential until the official filings are due by June 12. This settlement addresses some of the legal challenges faced by Kwon and Terraform Labs, though there are issues still left unresolved.
Kwon still faces charges from the U.S. Department of Justice (DOJ) and South Korean authorities for financial crimes. These ongoing legal battles have intensified scrutiny of Kwon’s operations since the collapse of his co…
The post <a href="https://coinedition.com/terraform-labs-ceo-do-kwon-settles-with-sec-luna-price-soars/" rel="noopener noreferrer nofollow">Terraform Labs CEO Do Kwon Settles with SEC; LUNA Price Soars</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Terraform Labs CEO Do Kwon Settles with SEC; LUNA Price Soars

Coin Edition

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