Terraform Labs CEO Do Kwon Settles with SEC; LUNA Price Soars
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Terraform Labs and Do Kwon settle fraud charges with the SEC; filings due by June 12.
LUNA’s market price surged 20% post-settlement, reflecting renewed investor confidence.
Kwon’s extradition issues between the U.S. and South Korea remain unresolved.
Terraform Labs and its CEO, Do Kwon, have reached a tentative settlement with the U.S. Securities and Exchange Commission (SEC) over fraud charges.
This development follows a jury verdict in April that found Kwon and his company liable for misleading investors about their cryptocurrency offerings, especially the LUNA cryptocurrency and TerraUSD (UST) stablecoin.
The settlement agreement, reported by Reuters, suggests financial restrictions on Kwon’s future financial activities. Details remain confidential until the official filings are due by June 12.
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