Terraform Labs And Do Kwon Face $5.3B Penalties In SEC Fraud Case
Summary
The SEC has won a civil fraud case against Terraform Labs and Do Kwon over the crash of the Terra ecosystem. The SEC seeks around $4 billion in disgorgements and penalties. The defendants and the SEC have differing views on proposed remedies, with the court's decision holding significant implications for the digital asset industry. Despite a recent price drop, the native token LUNC has experienced a modest 2% recovery, trading at $0.0001128.
