SEC Suggests Massive $5.3 Billion Fine for Terraform Labs in Response to Terra-Luna Collapse

Tuesday, 23 April 2024, 21:36

The SEC is recommending a record-breaking $5.3 billion fine be imposed on Terraform Labs and its co-founder Do Kwon for their involvement in the 2022 Terra-Luna collapse. This move highlights the regulatory crackdown on financial misconduct and sends a strong message to the industry. The hefty fine showcases the severity of the allegations and underscores the importance of maintaining transparency and compliance in the financial sector.
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SEC Suggests Massive $5.3 Billion Fine for Terraform Labs in Response to Terra-Luna Collapse

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.

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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