SEC seeks $5bn+ fines from Terraform Labs for fraud
Financial Times — April 24, 2024, 01:00 PM UTC
Summary: FT Editor Roula Khalaf highlights SEC's push for over $5bn in fines from Terraform Labs and co-founder Do Kwon for fraud. Terraform Labs collapsed in 2022, causing a crisis in the digital assets market. Kwon faces extradition battles and criminal charges. Former Binance CEO Zhao faces three years in prison and a $50mn fine for money laundering charges. Binance agreed to pay over $4.3bn in penalties.
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