Odaily Planet Daily News: The U.S. Securities and Exchange Commission (SEC) announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion and were sentenced to compensation for a fraudulent activity that lasted for several years. Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, said that this case confirms the fact that the SEC has repeatedly reiterated that the economic substance of a product (not labels, propaganda or hype) determines whether it is a security under the securities law. Terraform and Do Kwon's fraud caused devastating losses to investors, sometimes even causing their entire life savings to disappear. Their fraud reminds us that when companies break the law, investors will be hurt. Terraform and Kwon tried to resist our investigative efforts-they continued a dispute over the investigative subpoena all the way to the Supreme Court. Fortunately, through this settlement, the victims of their massive fraud will now get some justice. Do Kwon and Terra planned one of the largest securities frauds in U.S. history, and as the jury found, it was a lie, just like their claim to have created an algorithmic stablecoin. Ultimately, all they achieved was defrauding investors, destroying tens of billions of dollars in market value, and leaving a trail of victims in their wake.