The U.S SEC charges Terraform and its CEO Do Kwon.
Terra Classic (LUNC) price dropped over 5.2% in the last 24 hours.
The U.S Securities and Exchange Commission (SEC) has sued Terraform Labs and its founder, Do Kwon, for misleading investors in what the commission called a “multibillion-dollar fraud”. SEC claimed in its court filing in the Southern District of New York that, since beginning in April 2018, Kwon sold a range of related digital assets, many of which were unregistered securities, to raise billions of dollars.
Today we charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion-dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.
— U.S. Securities and Exchange Commission (@SECGov) February 16, 2023
According to SEC chair Gary Gensler Kwon and Terraform failed to provide the public with full, fair, and truthful disclosure. In particular, USTC and LUNC are known as Terra (
We współpracy z: https://thenewscrypto.com/terra-founder-do-kwon-charged-by-sec-for-multi-billion-fraud/
