๐จ BREAKING NEWS : DO KWON & TERRAFORM LABS SETTLE WITH SEC ๐จ
๐ Settlement Reached ! ๐
Terraform Labs and Do Kwon have reached a settlement with the SEC, canceling their scheduled May 29 court hearing. The final agreement is expected by June 12. This comes after the $40 billion Terra-Luna collapse in May 2022. Initially, the SEC sought a $5.3 billion fine, but Kwon negotiated it down to $1 million.
๐ฅ Major Collapse Impact ๐ฅ
The Terra-Luna collapse caused significant financial losses, highlighting the volatility in the cryptocurrency market.
๐ Extradition Battle ๐
Kwon remains in Montenegrin custody as the U.S. and South Korea compete for his extradition. The final terms of the deal are still undisclosed.
๐๏ธ Upcoming Developments ๐๏ธ
More details are expected soon, shedding light on the full impact of this settlement on the market and investors.
