Bitcoin
Bitcoin (BTC)
$65,950.00 -2.2619
Bitcoin price
Ethereum
Ethereum (ETH)
$3,489.91 1.3009
Ethereum price
BNB
BNB (BNB)
$582.76 -1.56517
BNB price
Solana
Solana (SOL)
$172.49 -3.82255
Solana price
XRP
XRP (XRP)
$0.5977850 -1.21508
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 -3.03143
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 6.3165
Pepe price
Bonk
Bonk (BONK)
$0.0000283 -5.96388
Bonk price
Bitcoin
Bitcoin (BTC)
$65,950.00 -2.2619
Bitcoin price
Ethereum
Ethereum (ETH)
$3,489.91 1.3009
Ethereum price
BNB
BNB (BNB)
$582.76 -1.56517
BNB price
Solana
Solana (SOL)
$172.49 -3.82255
Solana price
XRP
XRP (XRP)
$0.5977850 -1.21508
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 -3.03143
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 6.3165
Pepe price
Bonk
Bonk (BONK)
$0.0000283 -5.96388
Bonk price
Bitcoin
Bitcoin (BTC)
$65,950.00 -2.2619
Bitcoin price
Ethereum
Ethereum (ETH)
$3,489.91 1.3009
Ethereum price
BNB
BNB (BNB)
$582.76 -1.56517
BNB price
Solana
Solana (SOL)
$172.49 -3.82255
Solana price
XRP
XRP (XRP)
$0.5977850 -1.21508
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 -3.03143
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 6.3165
Pepe price
Bonk
Bonk (BONK)
$0.0000283 -5.96388
Bonk price
Bitcoin
Bitcoin (BTC)
$65,950.00 -2.2619
Bitcoin price
Ethereum
Ethereum (ETH)
$3,489.91 1.3009
Ethereum price
BNB
BNB (BNB)
$582.76 -1.56517
BNB price
Solana
Solana (SOL)
$172.49 -3.82255
Solana price
XRP
XRP (XRP)
$0.5977850 -1.21508
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000171 -3.03143
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000127 6.3165
Pepe price
Bonk
Bonk (BONK)
$0.0000283 -5.96388
Bonk price

U.S. SEC pursues summary judgment in case against Do Kwon and Terraform Labs

u-s-sec-pursues-summary-judgment-in-case-against-do-kwon-and-terraform-labs
Edited by
News
U.S. SEC pursues summary judgment in case against Do Kwon and Terraform Labs

The U.S. Securities and Exchange Commission (SEC) is demanding a summary judgment on all claims against Do Kwon and Terraform Labs following alleged breaches. 

The agency also seeks to forego a full trial due to a clear set of undisputed facts in its lawsuit. It argues that the pooling of funds in a collective venture, with profits expected mainly from the promoters’ endeavors, meets the criteria of the Howey test, thereby classifying it as a security under federal law. 

Terraform and Kwon are accused of deceiving investors about the stability of TerraUSD (UST) stablecoin. In their assessment, the regulator claims that UST’s price stability resulted from undisclosed third-party interventions, making previous statements about the algorithm’s effectiveness misleading.

Do Kwon’s lawyers previously appealed to the court, arguing that the SEC had not adequately demonstrated that securities were being offered.

Do Kwon is presently incarcerated in Montenegro on charges of document forgery following his arrest for possession of fake passports. 

Terraform’s co-founder, Daniel Shin, has distanced himself from the debacle, attributing the downfall of Terraform Labs to Kwon’s mismanagement. He emphasized disengagement from the company’s operations two years before its failure.

The ongoing legal drama continues to cast a shadow over the Terra ecosystem, with the prices of Terra (LUNA) and Terra Classic (LUNC) falling in the past day. This has contributed to the wariness among investors regarding the Terra ecosystem tokens amidst the broader context of price volatility.