Terraform Labs Settles $4.5 Billion SEC Fraud Case

In a major development, Terraform Labs, the now-defunct crypto company responsible for the Terra/Luna project, has reached a settlement of $4.5 billion with the U.S. Securities and Exchange Commission (SEC) following a lawsuit for defrauding investors in the cryptocurrency market. The company's former CEO, Do Kwon, has been ordered to pay restitution of $204,320,196 to the Terraform bankruptcy estate. This landmark settlement serves as a significant milestone in the ongoing battle against fraudulent activities in the digital currency space.