SEC reaches $4.47b settlement with bankrupt crypto firm Terraform Labs

SEC reaches $4.47b settlement with bankrupt crypto firm Terraform Labs

FILE PHOTO: The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg/File Photo

Terraform Labs reached a $4.47 billion civil settlement with the US Securities and Exchange Commission, after being found liable by a jury for defrauding cryptocurrency investors who lost an estimated $40 billion when the TerraUSD and Luna tokens collapsed in 2022.