News Score: Score the News, Sort the News, Rewrite the Headlines

Terraform Lab Agrees to Pay $4.47 Billion Penalty in SEC Civil Case

Terraform Labs Pte. will pay $4.47 billion to resolve a US Securities and Exchange Commission lawsuit over the firm’s 2022 collapse, which wiped out $40 billion in investor assets and shook the cryptocurrency world.The SEC on Wednesday asked a federal judge in New York to approve the settlement. The deal was reached after a jury in April found Terrform and co-founder Do Kwon liable for fraud following a two-week civil trial. Kwon still faces a criminal case over the sale of the firm’s UST stable...

Read more at bloomberg.com

© News Score  score the news, sort the news, rewrite the headlines