Terraform to Pay $4.47 Billion to Settle SEC Fraud Case (1)

Terraform Labs Pte. will pay $4.47 billion to resolve a US Securities and Exchange Commission lawsuit over the firm’s 2022 collapse, which wiped out $40 billion in investor assets and shook the cryptocurrency world.

The SEC on Wednesday asked a federal judge in New York to approve the settlement. The deal was reached after a jury in April found Terrform and co-founder Do Kwon liable for fraud following a two-week civil trial. Kwon still faces a criminal case over the sale of the firm’s UST stablecoin.

Terraform will pay about $3.59 billion plus interest and a $420 million penalty, while ...