Terraform Labs Contests SEC Victory in Fraud Case

On April 5, a jury in Manhattan gave a civil verdict for Terraform Labs and its co-founder Do Kwon to defraud clients. The allegations were brought up by the US Securities and Exchange Commission (SEC). The taking of this move is quite significant in the context of cryptocurrency scrutiny. Terraform Labs and Do Kwon faced accusations of misleading investors about the stability of UST stablecoin and making false claims about their technology’s use in the Korean payment system, Chai.