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Terraform Labs says SEC's $5.3 billion fraud fine request is unreasonable

Terraform Labs says SEC's $5.3 billion fraud fine request is unreasonable

CointimeCointime2024/05/02 04:19
By:Cointime

Terraform Labs Pte. and co-founder Do Kwon told a judge last month that they should not have to pay the $5.3 billion fine demanded by US regulators because most of the company's stablecoins were sold overseas. The US Securities and Exchange Commission alleges in its lawsuit against Terraform and Do Kwon that the company's collapse in 2022 resulted in $40 billion of investor assets becoming worthless and rocked the world of cryptocurrency.

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