SEC Seeks $5.2B Penalties from Terraform and Do Kwon

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SEC Seeks $5.2B Penalties from Terraform and Do Kwon

The United States Securities and Exchange Commission (SEC) is seeking to impose substantial monetary penalties on Terraform Labs and its co-founder, Do Kwon, following a civil case verdict. In an April 19 filing in the U.S. District Court of New York in the Southern District of New York, the SEC demands that about $4.7 billion should be given back as disgorgement and prejudgment interest, plus $520 million in civil penalties. This is a total of …