Terraform Labs and Do Kwon Tentatively Settle SEC Fraud Case Over TerraUSD and Luna

May 30, 2024, 03:51 PM

Singapore-based Terraform Labs and its founder, Do Kwon, have tentatively agreed to settle a fraud case brought by the U.S. Securities and Exchange Commission (SEC). According to recent court filings, the SEC had accused Terraform Labs and Do Kwon of misleading investors before the 2022 collapse of the stablecoin TerraUSD and the associated cryptocurrency Luna. The settlement, which is still tentative, aims to resolve these allegations.