SEC Suggests Massive $5.3 Billion Fine for Terraform Labs in Response to Terra-Luna Collapse
Tuesday, 23 April 2024, 21:36
SEC suggests $5.3 billion fine for Do Kwon, Terraform Labs
The Securities and Exchange Commission (SEC) is calling for a New York court to impose a massive $5.3 billion worth of fines on Terraform Labs and its co-founder Do Kwon.
Background
The fines are related to their alleged roles in the 2022 Terra-Luna collapse, a significant event that shook the financial markets.
- The SEC is emphasizing the need for accountability and consequences for financial misconduct.
- The suggested fine amount is one of the largest in SEC history, signaling the seriousness of the allegations.
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