Terraform Labs was ‘built on lies’ — SEC at trial

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The civil trial between the U.S. Securities and Exchange Commission and Terraform Labs entered its tenth day without the attendance of Do Kwon.

As the trial between Terraform Labs and the United States Securities and Exchange Commission (SEC) approaches the finish line, attorneys alleged the crypto firm made several false claims regarding the platform to investors.

According to an April 5 Reuters report, SEC lawyers said in U.S. District Court for the Southern District of New York that Terraform’s story was “built on lies,” which included the stability of algorithmic stablecoin TerraUSD (UST) and an integration with a South Korean payment app.

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