Global #Terraform Labs

As per a recent article by Bloomberg, Do Kwon, the founder of Terraform Labs, and the Securities and Exchange Commission (SEC) contested the substantial $5.3 billion penalty that was suggested in the complaint.

Attorneys for Terraform Labs claimed that since the Luna Foundation Guard (LFG) is currently a non-entity in this matter, the SEC should properly pursue the penalty from them.

According to reports, the U.S. Securities and Exchange Commission (SEC) intends to punish the discredited founder of the Terra ecosystem billions of dollars.

The Council of the Supreme Court will now decide whether to extradite Kwon to South Korea, where his sentence might be less severe than those in the United States.