Terraform Labs And Do Kwon Push For $1 Million SEC Fine Opposed To $5.8 Billion Demanded After Terra-Luna Crash

Terraform Labs and its CEO, Do Kwon, are challenging the U.S. Securities and Exchange Commission’s (SEC) demand for a $5.8 billion fine following the crash of Terra-Luna. They are instead pushing for a significantly reduced fine of $1 million. The SEC’s dramatic fine stems from their view that Terraform Labs violated securities laws. Terraform Labs and Kwon, however, maintain that the blockchain and smart contract platform operates within the law.

Details of the SEC