Why was Do Kwon found guilty?
Terraform Labs and Do Kwon were found guilty of misleading #investors about the UST #stablecoin and falsely claiming Chai's use of their technology. The SEC highlighted the significant investor losses due to Terra's deception and urged crypto firms to prioritize compliance. Gurbir Grewal emphasized the need for investor protection and adherence to laws.
The SEC's enforcement director stated that Terraform Labs and #kwon deceived investors about the stability of Terra USD, resulting in substantial losses. Terraform Labs expressed disappointment with the verdict and questioned the SEC's legal authority to bring the case, considering their options. The jury's decision establishes civil liability for #DoKwon , who also faces separate criminal charges in the US and South Korea.
