Terraform Labs says SEC's $5.3 billion fraud fine request is unreasonable

05/02 04:07

Wechat scan to share

Terraform Labs Pte. and co-founder Do Kwon told a judge last month that they should not have to pay the $5.3 billion fine demanded by US regulators because most of the company's stablecoins were sold overseas. The US Securities and Exchange Commission alleges in its lawsuit against Terraform and Do Kwon that the company's collapse in 2022 resulted in $40 billion of investor assets becoming worthless and rocked the world of cryptocurrency.

Comments

All Comments

Recommended for you

04/29 12:55

1confirmation founder: There is a negative correlation between the popularity of the seed round and the success of the project product

On April 29th, Nick Tomaino, the founder of 1confirmation, wrote on X that there is a negative correlation between the popularity of seed round projects and their success. Participating in a hot round is indeed exciting: high funding amounts, intense competition, big-name investors, and extensive media coverage. However, rarely does participating in such hot projects before the product-market fit is clear bring truly outstanding results. At 1confirmation, some of the most "popular" projects we have invested in have actually performed the worst.
04/29 12:52

U.S. Treasury Secretary Benson: We hope to obtain long-term tariff revenue and agreements

US Treasury Secretary Besant said he hopes to obtain long-term tariff revenue and agreements, and the US will hold talks with at least 17 partners in the coming weeks. There is a good chance of seeing income tax reductions in the tax bill, and tariff revenue could be used for tax cuts.
04/29 11:09

MilkyWay has opened airdrop applications

April 29th news, MilkyWay stated on social media that the airdrop application has been opened, and the application will be closed at 18:00 on May 29, 2025.
Helene Braun · 04/29 07:56

Russian ruble stablecoin: Exec lists 7 ‘Tether replica’ features

As the Russian government reportedly eyes ruble-backed stablecoins, a local industry executive warned that a viable “Tether replica” would require a lot of effort.
Ruholamin Haqshanas · 04/29 07:47

1inch launches on Solana with crosschain swaps in the pipeline

Solana outperformed rivals with 33% higher DEX volume, 400% more transactions, and 180% more active addresses over the past three months.
cointelegraph · 04/29 06:26

Bitcoin price consolidation likely as US Core PCE, manufacturing, and jobs reports print this week

Bitcoin traders could risk off as a handful of US macroeconomic reports print throughout the week.
Stephen Moore · 04/29 06:23

Zurich Uni’s secret AI experiment manipulated Redditors’ opinions

The University of Zurich's Faculty of Arts and Sciences Ethics Commission said it had investigated the incident and promised to coordinate better with test subjects in the future.
Mint Blockchain · 04/29 01:27

Understanding SuperStacks with Mint: A New Paradigm for Superchain Incentives

In April 2025, the Optimism Foundation officially launched SuperStacks
Mint Blockchain · 04/29 01:27

From One Tree to an Entire Forest: Mint Forest V3 Is Officially Live!

We’re thrilled to announce the official launch of Mint Forest V3!
TronBank.Pro · 04/28 09:41

TronBank.Pro: Born from the Flourishing TRON Ecosystem and the "Resource Dilemma"

This article analyzes TronBank.Pro's emergence and core functions. To address TRON's resource efficiency challenges, TronBank.Pro offers energy leasing, TRX staking, and plans a UCard, building a sustainable DeFi ecosystem.