Terra (LUNA) Founder Do Kwon Asks Court To Dismiss SEC’s Securities Fraud Charges
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Terraform Labs (TFL) and its co-founder Do Kwon have requested the dismissal of the charges brought against them by the U.S. Securities and Exchange Commission (SEC). In a new court filing, Kwon pushes back against charges related to the alleged violation of securities registration and anti-fraud provisions in relation to TFL’s stablecoin, TerraUSD (UST), and its companion digital asset, LUNA. The SEC has accused TFL of violating securities law by selling these digital assets without registering them with the agency. Kwon and TFL are motioning to dismiss the SEC’s claims, arguing that the digital assets are not securities under the
On Friday, Zack Guzmán, founder of Coinage Media, announced that Terraform Labs’ co-founder Do Kwon and his startup were deemed responsible for fraudulent activities in its legal battle against the U.S. Securities and Exchange Commission (SEC). The lawsuit spanned approximately two weeks. The trial culminated in the jury’s decision in…
Just recently, Terra founder Do Kwon hinted at purchasing $3 billion in bitcoin to bolster the protocol’s reserves and according to a number of reports and blockchain analysis, Terra purchased $125... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go…