BREAKING: Terraform to pay $4.47B to resolve SEC civil lawsuit
The settlement would resolve a civil lawsuit filed by the Securities and Exchange Commission following Terraform’s collapse in 2022.
Terraform Labs has agreed to pay the United States Securities and Exchange Commission roughly $4.47 billion as part of its settlement with the securities regulator. The total remedies include disgorgement fines of roughly $3.6 billion, a civil penalty of $420 million and prejudgement 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 in accordance with the settlement plan.
The settlement was reached after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.
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Author: Vince Quill
