U.S. judge approves Terraform's $4.47 billion settlement with SEC

PANews reported on June 14 that according to Cointelegraph, Judge Jed Rakoff of the Southern District Court of New York approved the $4.47 billion settlement agreement reached between Terraform Labs and Do Kwon and the U.S. Securities and Exchange Commission (SEC). According to the agreement, Terraform will recover $3.58 billion in illegal gains and pay a civil penalty of $420 million and nearly $467 million in pre-judgment interest, and its co-founder Do Kwon will be prohibited from serving as an executive or director of a listed company.