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TechFlow news: The U.S. Securities and Exchange Commission (SEC) has urged a New York court to impose a $5.3 billion penalty on Terraform Labs and its co-founder Do Kwon, citing their roles in the 2022 Terra-Luna collapse.
The two parties are currently disputing the amount of the civil penalty, with Terraform Labs arguing for a maximum fine of $3.5 million, while Kwon has proposed paying $800,000.
The U.S. Securities and Exchange Commission (SEC) is urging a New York court to impose a $5.3 billion penalty on Terraform Labs and its co-founder Do Kwon for their roles in the 2022 Terra-Luna collapse. The parties are currently disputing the amount of the civil penalty, with Terraform Labs arguing for a maximum fine of $3.5 million, while Kwon has proposed paying $800,000.
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