Terraform Labs reached a $44.7 billion settlement with the United States Securities and Exchange Commission (SEC) within the scope of the lawsuit filed regarding their algorithmic stablecoin TerraUSD (UST), which crashed in 2022.
The settlement involves Terraform paying a fine to the SEC and complying with certain regulatory regulations.
Do Kwon, CEO of Terraform Labs, announced that the company plans to terminate its operations after the agreement.