TechFlow news — Terraform Labs and its founder Do Kwon's legal team are expected to deliver closing arguments Friday in a trial concerning allegations that Terraform and Kwon deceived investors prior to the 2022 collapse of their stablecoin.
The U.S. Securities and Exchange Commission (SEC) alleges that Singapore-based Terraform and Kwon misled investors in 2021 by falsely touting the stability of the TerraUSD stablecoin, which was designed to maintain a value of $1. The regulator also claims they made false statements asserting that Terraform's blockchain was used by a popular South Korean mobile payment app.
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