A New York district court judge has rubber-stamped Terraform Labs and Do Kwon’s nearly $4.5 billion settlement with the SEC.
A United States district court judge has signed off on the $4.5 billion settlement between Terraform Labs, its founder Do Kwon and the Securities and Exchange Commission.
New York District Court Judge Jed Rakoff approved the deal on June 13, which will see Terra and Kwon pay $4.47 billion in fines and penalties and be essentially banned from the crypto industry.
In all, Terraform will pay disgorgement fines of roughly $3.6 billion, a civil penalty of $420 million and prejudgement interest of nearly $467 million.
