Tag: Terraform Labs

The defunct Terraform Labs has revealed its plans to wind down its operations, products and services soon after SEC settlement

The one behemoth startup Terraform Labs has decided to wind down its operations following its settlement with the US SEC

Terraform Labs is considering shutting down after it agreed to a $4.47 billion settlement with the United States SEC

Terraform proposed that $1 million in civil penalties would be "far more appropriate" than the SEC's multibillion-dollar proposal.

The SEC requested that Kwon and Terraform Labs pay roughly $4.7 billion in disgorgement and prejudgment interest. 

Terraform Labs argued that a $1 million civil penalty would be “far more appropriate” than the SEC’s multibillion-dollar proposal.

While Terraform suggested a maximum civil penalty of $3.5 million and Kwon proposed only $800,000, the SEC argued for higher penalties.

The civil trial with the SEC commenced more than a year after the commission filed a lawsuit against Terraform in February 2023.

Do Kwon, the co-founder and former CEO of Terraform Labs has secured freedom from Montenegro Prison amid extradition saga

Embattled Terraform Labs co-founder Do Kwon has won the Appeal against his proposed extradition to the United States

It hasn’t been decided when Do Kwon will be traveling to the United States but his trial as been postponed to late March.

Terraform Labs CFO Han Chang-joon has been arraigned in South Korea for allegations bordering on fraudulent marketing

Terraform Labs CFO has been extradited to South Korea after this imprisonment in Montenegro following the crash of the Terra ecosystem

Terraform Labs CEO pointed out that the assets belonging to the users of the firm cannot be called securities by the SEC.

The United States Securities and Exchange Commission (SEC) has gained favor from the Federal Court in its ongoing Terraform Labs case

Lawyers representing Terraform Labs and Terra co-founder, Do Kwon, have filed a motion to dismiss the lawsuit against Do Kwon and his firm.

Defunct Terraform Labs Co-Founder Do Kwon and Terraform Labs reportedly withdrew millions from the company

Terraform Labs asked a federal judge in California to dismiss an investor litigation filed by Nick Patterson on May 3.