TechFlow news: After Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission (SEC), newly disclosed court documents have sparked controversy. According to Montenegrin media reports, Montenegro's Prime Minister Milojko Spajic invested $75,000 in April 2018 to purchase 750,000 Luna tokens.
SEC filings show that Spajic was one of the earliest investors in Terraform Labs, with a contract dated April 17, 2018. Previously, he claimed that the investment had been made by Das Capital SG, a Singapore-based firm where he was employed.
The Luna and TerraUSD tokens launched by Terraform Labs collapsed in May 2022, causing nearly $40 billion in losses across the crypto market. Co-founder Do Kwon was arrested on fraud charges.
The newly revealed documents indicating Spajic's direct contractual relationship with Terraform Labs could bring new complications.
