Express
Judge Approves Terraform's $4.5 Billion Settlement with SEC
Summary: Jed Rakoff, a U.S. District Court judge in New York, has approved a $4.5 billion settlement between Terraform Labs and the U.S. Securities and Exchange Commission (SEC). Under the agreement, Terraform and its founder Do Kwon will pay a total of $4.47 billion in fines and penalties and be essentially banned from the crypto industry. ...
Jed Rakoff, a U.S. District Court judge in New York, has approved a $4.5 billion settlement between Terraform Labs and the U.S. Securities and Exchange Commission (SEC).
Under the agreement, Terraform and its founder Do Kwon will pay a total of $4.47 billion in fines and penalties and be essentially banned from the crypto industry. Of that, Terraform will pay $3.6 billion in disgorgement penalties, $420 million in civil penalties, and nearly $467 million in prejudgment interest.
Kwon is currently detained in Montenegro after spending four months in jail for using a fake passport to try to leave the country. The Montenegrin court is deciding competing extradition requests from the United States and South Korea, where he faces criminal charges.
Tags: SEC,Terraform Labs
Link: Judge Approves Terraform's $4.5 Billion Settlement with SEC [Copy]
