According to Foresight News, the U.S. Securities and Exchange Commission (SEC) issued an announcement stating that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion for a fraud that lasted for several years, involving crypto asset securities, which caused investors to suffer huge losses when the plan collapsed. SEC Chairman Gary Gensler said that this case confirms the repeatedly reiterated fact that the economic substance of a product - not the label, publicity or hype - determines whether it is a security under the securities law.