Terraform Co-Founder Do Kwon Found Liable for Fraud: Jury Verdict Revealed

Friday, 5 April 2024, 19:35
The co-founder of Terraform Labs, Do Hyeong Kwon, has been found guilty of fraud by a jury, following reports of investor deception. The Securities and Exchange Commission accused Terraform and Kwon over the collapse of the Terra USD stablecoin. This development sheds light on the legal repercussions faced by influential figures in the financial sector, warning against misleading practices in the industry.
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Terraform Co-Founder Do Kwon Found Liable for Fraud: Jury Verdict Revealed

Key Highlights:

A jury has found that the co-founder of Terraform Labs, Do Hyeong Kwon, misled investors and was found liable for fraud.

Legal Battle Details:

  • The Securities and Exchange Commission charged Terraform and Kwon in February 2023 for issues related to the algorithmic stablecoin Terra USD.
  • The coin's collapse had a dramatic impact, leading to increased scrutiny of their operations.

This development emphasizes the importance of transparent practices in financial markets and highlights the risks associated with regulatory non-compliance.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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