Terraform

Terraform Labs and Do Kwon Held Accountable as US Jury Unveils Fraud Verdict

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Singapore – A US jury has found Terraform Labs and its founder, Do Kwon, liable for fraud in a case concerning the sale of cryptocurrencies. This verdict comes as regulators around the world are clamping down on fraudulent practices in the crypto industry. The jury concluded that Terraform Labs and Kwon had engaged in deceptive practices, causing significant financial harm to investors. This decision serves as a warning to other cryptocurrency platforms and their operators. The trial focused on the sale of Terraform Labs’ stablecoin, Mirror Protocol, which is backed by real-world assets. Investors alleged … Read more

Terraform Labs Faces Jury Decision in SEC Lawsuit Over Alleged Investor Deception in TerraUSD Collapse

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New York – The U.S. Securities and Exchange Commission (SEC) recently concluded their case against Terraform Labs and its co-founder, Do Kwon, leaving the decision in the hands of a New York jury. The jury must now determine whether Kwon and his company can be held accountable for allegedly providing misleading information to investors regarding the stability of their cryptocurrency, Terra USD (UST), and its integration with a South Korean mobile payments app. Terra USD, also known as an “algorithmic stablecoin,” was designed to be pegged to the U.S. dollar through on-chain mint-and-burn mechanics with … Read more