According to Foresight News, a settlement agreement of $44.7 billion between Terraform and the U.S. Securities and Exchange Commission (SEC) has been approved by Judge Jed Rakoff of the U.S. District Court in New York. As per the agreement, Terraform will pay nearly $36 billion in forfeiture, $4.2 billion in civil penalties, and an estimated $4.67 billion in interest. On the basis of collaboration with Terraform, Do Kwon has agreed to pay a forfeiture of $1.1 billion and pre-trial interest of $14.3 million, along with a civil penalty of $80 million.
In previous news from Foresight News, it was reported that Terraform Labs plans to dissolve its business. The CEO and Terra developer, Chris Amani, plans to sell his projects within the Terra ecosystem, including Pulsar Finance, Station Wallet, and Enterprise DAO.
