Terraform Labs and Founder Do Kwon Found Liable for $40 Billion Fraud
A Manhattan jury has found Singapore-based Terraform Labs and its founder, Do Kwon, liable for civil fraud charges related to their stablecoin, TerraUSD. The Securities and Exchange Commission (SEC) accused Terraform Labs and Kwon of misleading investors about the stability of TerraUSD and falsely claiming that Terraform’s blockchain was used in a popular Korean mobile payment app. The collapse of TerraUSD in 2022 resulted in investors...