The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
Category: Terra
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Terraform proposes $1M penalty for SEC case, no relief or disgorgement
Lawyers for Terraform claimed that seeking disgorgement from the platform would involve the Luna Foundation Guard, a “non-party” in the SEC’s civil case.
Do Kwon appeals Montenegrin court decision, claiming ‘unfounded and illegal’ interpretation
The question of the Terraform co-founder’s extradition to either the U.S. or South Korea has been bouncing between lower and higher courts in Montenegro for months.
New Stablecoin Bill Faces Criticism for Stifling Innovation and Breaching First Amendment
A new bill co-sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, aimed at regulating stablecoins, has drawn criticism for potentially stifling innovation and breaching First Amendment rights. The bill includes a provision that bans all “algorithmic payment stablecoins,” which could have significant implications for software developers and the broader tech community. Lummis-Gillibrand Stablecoin Bill Criticized […]Terra co-founder Do Kwon will stay in Montenegro until February: Report
The Terraform Labs co-founder had been awaiting extradition to either the U.S. or South Korea after a prison sentence in Montenegro for using falsified travel documents.
CZ must stay, Do Kwon to be extradited: Law Decoded
A Seattle district court ruled out CZ’s departure to the UAE, and the Montenegrin justice minister plans to grant the United States request for Do Kwon’s extradition.
Montenegrin official plans to extradite Do Kwon to the United States: Report
The Terraform Labs co-founder had been awaiting extradition to either the United States or South Korea after being arrested and charged in Montenegro.
Jury in Terraform Labs case shouldn’t decide whether crypto is a security — SEC
According to the SEC, tokens at issue in its civil case against Terraform Labs should be a “legal question” for a court, “not a factual question for the jury.”
Terraform Labs and SEC lawyers spar over whistleblower in court: Report
Though many filings in the SEC case were made under seal, Judge Jed Rakoff reportedly suggested that nothing would remain confidential should the matter go to trial.
Jump Crypto filed docs confidentially in SEC v. Terraform Labs case
The trading firm and its CEO, Kanav Kariya, allegedly manipulated the price of TerraUSD to gain roughly $1.3 billion in profits.