Terraform

The post Ripple vs SEC Lawsuit: Can $2B Fine Be Reduced? Will Terraform Labs Settlement Influence Outcome? appeared first on Coinpedia Fintech News Ripple Labs has challenged the U.S. Securities and Exchange Commission (SEC) on their $2 billion fine in the ongoing lawsuit. On Thursday, the company’s attorney stated in a “notice of supplemental authority” that the penalty proposed by the SEC is excessively punitive. In addition, they brought the comparison with the recent Terraform Labs settlement, and persuaded the…

The post Terraform Labs to Settle SEC Dispute with $4.47 Billion Payment appeared first on Coinpedia Fintech News Terraform Labs has reached an agreement with the U.S. Securities and Exchange Commission (SEC) to pay $4.47 billion, resolving a significant dispute. This comes from the $40 billion market loss in 2022 caused by the Terra ecosystem collapse. Terraform Labs to Pay Nearly $4.5 Billion in SEC Settlement The Securities and Exchange Commission has requested court approval for a final consent judgment…

Terraform Labs and CEO Do Kwon reach a preliminary settlement with the SEC over allegations of misleading investors. The settlement terms are set to be finalized and submitted for court approval by June 12, 2024. According to the Securities and Exchange Commission v. Terraform Labs case, as documented in Court Listener last updated on May 30, 2024, the lawyers representing both parties announced a settlement in principle during a telephone conference before Judge Jed Rakoff. The details are to be…

The post LUNA Price Skyrockets Amid Terraform Labs’ Settlement with SEC appeared first on Coinpedia Fintech News Terraform Labs and its co-founder, Do Kwon, have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) in a civil fraud case. The SEC previously accused Terraform and Kwon of deceiving their investors about the stability of their products, which resulted in the collapse of their $40 billion ecosystem in May 2022. A recent court filing says a conference…

The post SEC vs Terraform Labs: Montenegro Appeals Court Halts Do Kwon’s Extradition for Retrial appeared first on Coinpedia Fintech News The Montenegro Appeals Court has halted Do Kwon’s extradition to South Korea, calling for a retrial in the initial court. This move contradicts the previous High Court ruling. Interestingly, this decision follows a meeting between Montenegro’s Justice Minister and the SEC’s Director of Enforcement, raising questions about potential influences on the legal proceedings. Do Kwon’s case is now due…

Terraform Lawyers are fighting the US SEC with the proposed civil penalty. Do Kwon may still face charges in the United States. Terraform Labs, the company behind the algorithmic stablecoin TerraUSD (UST) is fighting the United States Securities and Exchange Commission (SEC) over a hefty fine levied by the regulator. Terraform Lab’s Lawyers Argument According to reports, the SEC alleges Terraform misled investors and is seeking $5.3 billion in penalties, with most of that being disgorgement, a form of repayment…

A New York jury found Terraform Labs and its co-founder Do Kwon guilty of fraud.  Terraform Labs’ lawyers have vehemently denied the allegations, arguing that the majority of token sales occurred outside the United States.  Terraform Labs and its co-founder Do Kwon have been found guilty of fraud by a New York jury. The verdict follows a two-week trial during which the Securities and Exchange Commission (SEC) presented evidence of alleged wrongdoing by the defendants. The outcome of this case…

Do Kwon has filed a motion in court seeking to dismiss the SEC’s ludicrous $5.3 billion proposed fines and penalties, claiming that they fail to meet the precedent set by the SEC v. Morrison lawsuit. Kwon’s team proposed that he pay $1 million instead, arguing that only a few people who lost money on LUNA and UST were from the SEC’s jurisdiction in the US. As the world awaits Binance founder Changpeng Zhao’s sentencing in a Seattle courtroom today, another…

In response to the impending conduct injunction expected from the ongoing legal battle with the SEC, Terraform Labs announced measures to comply with regulatory requirements. These measures include barring U.S. users from accessing certain products and features starting April 28. Despite expressing frustration, the company acknowledges the necessity to adapt to the evolving regulatory landscape. Amid the growing U.S. regulatory scrutiny, Terraform Labs has recently introduced some bold measures in place. Earlier this week on Thursday, April 25, Terraform Labs…