Terraform Labs Pte. and co-founder Do Kwon, after being found guilty of fraud by a New York jury last month, told a judge they shouldn't pay the $5.30 billion fine demanded by U.S. regulators because most of the company's stablecoins were sold overseas.
In a lawsuit filed against Terraform and Do Kwon, the Securities Exchange Commission claims that the company's failure in 2022 wiped out $40 billion in investor assets and shook the cryptocurrency world.
Terraform Labs says SEC request for $5.30 billion fraud penalty unreasonable
2024-05-02 03:55:41
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