Terraform Labs on Trial: SEC Brands It a Fraudulent Empire

The U.S. Securities and Exchange Commission (SEC) opened its civil trial against Terraform Labs by casting the blockchain firm as a fraudulent operation. At the court proceedings in the Southern District of New York, SEC lawyers portrayed Terraform Labs as a financial disaster where investors experienced huge losses. The trial was initiated over a year after the Securities and Exchange Commission accused Terra and its co-founder Do Kwon of perpetrating a multi-billion dollar fraud on crypto-asset securities in February 2023.