💰💼 SEC Seeks $5.2B Penalties from Terraform and Do Kwon! 💼💰

Hold onto your hats, folks! The United States Securities and Exchange Commission (SEC) is making waves with its pursuit of substantial monetary penalties against Terraform Labs and its co-founder, Do Kwon. In a bold move, the SEC is demanding a whopping $5.2 billion in penalties following a civil case verdict. 😲💸

In a recent filing, the SEC is pushing for Terraform and Kwon to cough up approximately $4.7 billion in disgorgement and prejudgment interest, alongside a staggering $520 million in civil penalties. That's a jaw-dropping total of $520 million from Terraform and $100 million from Kwon. 📜💼

But the drama doesn't end there: Terraform and Kwon have differing views on the proposed penalties. While the crypto firm suggests a maximum civil penalty of $3.5 million, Kwon is pushing for a significantly lower amount of $800,000. It's a battle of wills as they navigate the legal storm. ⚖️🌩️

In addition to the financial judgment, the SEC is recommending measures such as disqualifying Kwon from holding positions as an officer or director of a security issuer and enforcing full disclosure of banking accounts and assets. They also aim to implement a "conduct-based injunction" on Terraform to prevent future misconduct. 🔒💼

The SEC isn't holding back, emphasizing the defendants' purported lack of remorse and the potential for future violations. They're sending a clear message: No excuses will justify actions contrary to federal securities laws. It's a pivotal moment in the crypto world as regulations tighten and accountability becomes paramount. 🚀🔍

Stay tuned as this legal saga unfolds and awaits approval by a judge. This development comes on the heels of a jury's verdict finding Terraform and Kwon liable for defrauding investors, marking a significant chapter in the ongoing battle for accountability in the crypto market. 💼🔒 #SEC #Terraform #DoKwon #CryptoRegulation 📉🔒

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