SEC seeks summary judgment in Do Kwon and Terraform Labs case

A court filing from Oct. 27 revealed the SECs unwillingness to accept the jurys leniency on Do Kwon and his participation in assisting in the scams that eventually led to the collapse of Terraform Labs. SEC seeks summary judgment in Do Kwon and Terraform Labs case in NY district court. Source:  courtlistener.com On the exact same day, Do Kwon and Terraform Labs asked the judge to toss SECs suit– arguing that Terra Classic( LUNC ), TerraClassicUSD (USTC), Mirror Protocol (MIR) and its mirrored assets( mAssets )are not securities as the SEC alleged.However, the SEC keeps that Kwon and Terraform Labs provided and sold securities, sold LUNA and MIR in unregistered deals, engaged in transactions including mAssets and committed fraud.Related: Terraform co-founder Shin blames procedure for collapse throughout trial in S. KoreaWhile Terra co-founder Daniel Shins legal representative blamed the” unreasonable operation of the Anchor Protocol and external attacks brought out by Do-hyung Kwon” for the Terra ecosystem collapse, the business just recently blamed market maker Citadel Securities for its role in an alleged” collective, intentional effort” to cause the depeg of its TerraUSD (UST) stablecoin in 2022.

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