Terraform Labs Refuses to Pay $5.3 Billion Fine: No Evidence from SEC – Implications for LUNA Coin (LUNA)
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- In March 2024, Terraform Labs and its co-founder Do Kwon were accused of fraud by a New York jury. US regulators demanded a hefty fine of $5.3 billion.
- The lawyers representing the bankrupt company refuted these allegations, stating that the majority of the company’s UST stablecoins were sold outside of the United States.
- The Securities and Exchange Commission (SEC) accused Terraform and Kwon of making over $4 billion in “unjust gains” through unregistered token sales, including LUNA and UST.
The SEC accuses Terraform Labs and its co-founder of fraud, demanding a record-breaking fine in the crypto industry. Howev... Read the full article for FREE at COINOTAG!
