2024-04-24 14:15:01

The U.S. Securities and Exchange Commission (SEC) is demanding that Do Kwon and Terraform Labs be fined $5.3 billion for defrauding investors after both parties were found guilty in a multi-billion dollar fraud.

This amount includes $4.7 billion in compensation for investors, plus penalty fines of $420 million and $100 million for Terraform Labs and Do Kwon, respectively.

The SEC asserts that this is a fair and justified punishment, considering the severity of the fraud and the substantial profits gained by Terraform Labs.

It is noted that Terraform Labs considers a maximum fine of $3.5 million more appropriate, while Do Kwon has proposed paying only $800,000. 😁

Currently, the price of $LUNC is $0.00011, while $USTC is trading at $0.019.

#TerraformLabs #DoKwon #SEC #LUNC #USTC

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