According to Foresight News, according to Cointelegraph, U.S. District Court Judge Jed Rakoff in New York has approved the $4.47 billion settlement agreement reached between Terraform and the U.S. Securities and Exchange Commission (SEC). According to the agreement, Terraform will pay nearly $3.6 billion in fines, $420 million in civil penalties, and approximately $467 million in estimated interest. Based on cooperation with Terraform, Do Kwon agreed to pay $110 million in fines and $14.3 million in pretrial interest, as well as $80 million in civil penalties.
Foresight News previously reported that Terraform Labs plans to dissolve its business, and its CEO and Terra developer Chris Amani plans to sell its projects in the Terra ecosystem, including Pulsar Finance, Station Wallet and Enterprise DAO.