Terraform Labs to Pay $4.47 Billion in Proposed Judgment to Resolve SEC Lawsuit

Jun 12, 2024, 05:06 PM

Terraform Labs has agreed to pay $4.47 billion to the U.S. Securities and Exchange Commission (SEC) to resolve a civil lawsuit. The lawsuit was filed following the firm's 2022 collapse, which resulted in a loss of $40 billion in investor assets and had significant repercussions in the cryptocurrency world. The agreement is part of a proposed judgment, according to a court filing.