EddieJayonCrypto
29 Dec 23
The United States District Court has ruled in favor of the United States Securities Commission (SEC) in its case against Terraform Labs and its former CEO Do Kwon. Despite Terraform Labs' opposition, the court has permitted SEC witnesses to testify, and the jury trial is set to begin on January 29, ...
The United States District Court has ruled in favor of the United States Securities Commission (SEC) in its case against Terraform Labs and its former CEO Do Kwon. Despite Terraform Labs' opposition, the court has permitted SEC witnesses to testify, and the jury trial is set to begin on January 29, 2024. Additionally, Do Kwon is facing legal challenges in Montenegro, where his detention has been prolonged by an additional two months amid a dispute regarding potential extradition.
A recent court filing indicates that Terraform Labs’ request to have the SEC’s expert witnesses testify as part of its case against the blockchain company was denied. The SEC took legal action against Terraform Labs and Kwon in February for alleged fraud that led to the collapse of Terra/Luna tokens, now known as Terra Luna Classic. Kwon is currently facing legal challenges in Montenegro, where his detention has been extended for an additional two months, and the potential for extradition is being disputed by his legal team.
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