Terraform Labs, along with its co-founder Do Kwon, has agreed to a $4.5 billion settlement with the SEC, comprising nearly $3.6 billion in disgorgement and a $420 million civil penalty. The community will take over operations as Terraform Labs ceases operations.
Terraform Labs has agreed to pay nearly $4.5 billion to settle a lawsuit filed by the SEC. https://t.co/FoxvSSFEEJ
US SEC pushes back against Ripple's efforts to lower its fines saying the firm 'is agreeing to nothing' https://t.co/E0slZCqhKU
[COINTELEGRAPH] Terraform Labs to shut down after $4.5B #SEC settlement: Law Decoded
After reaching a $4.5 billion deal with the SEC, Terraform Labs has announced plans to close operations, sell projects, and transfer control of the Terra blockchain to the community. Stay tuned for more updates on this developing story. #TerraformLabs #SECdeal #blockchain
#Ripple's Chief Legal Officer has challenged the SEC's allegations, emphasizing that Ripple's case has no victims requiring compensation. This response follows Ripple's proposal to limit its penalty to $10M, significantly lower than the SEC's initial demand of $2B ⬇️ #cryptonews https://t.co/HNLudY9Q0p
The @SECGov dismisses @Ripple’s argument for a lighter penalty, pointing to differences with Terraform Labs’ case. Will Ripple face the full $876.3M penalty? https://t.co/JjS79g126p
.@Ripple's chief legal officer has countered the #SEC's allegations following the #crypto firm's proposal to limit its penalty to $10 million. https://t.co/8t9G0bo1al
SEC SLAMS RIPPLE’S REQUEST FOR LOWER PENALTIES - “RIPPLE IS AGREEING TO NOTHING” - On June 13th, @Ripple requested that the judge presiding over its case with the SEC ensure that the company is forced to pay “no more than $10 million” in penalties. - The $10 million figure is… https://t.co/IQBR2C2mWx https://t.co/Jvbod1hk4U
SEC Agrees to Reduce Fine for Ripple from $2 Billion to $102.6 Million The SEC responded to a recent request from @Ripple's lawyers, who called the regulator's proposed $2 billion fine unjust. The lawyers suggested a payment of $10 million, considering it more reasonable.… https://t.co/tPl1ECKGOW
US judge green lights Terraform's $4.5bn SEC settlement https://t.co/0OAaG9sxWN
UPDATE: US SEC STRIKES DOWN RIPPLE’S LATEST ARGUMENT FOR A LOWER PENALTY OF $10M INSTEAD OF $876.3M
A U.S. judge has signed off on a $4.5 billion settlement between @SECgov, Terraform Labs and Do Kwon, https://t.co/k1BvNwgUAy
Ripple Labs says the SEC's settlement with Terraform Labs, with the crypto firm agreeing to pay $420 million, is further proof of the "unreasonableness" of the request that it be made to pay a much larger fine for activities that did not amount to fraud. https://t.co/mvq0hmlAaA
🇺🇸 RIPPLE AGREES TO PAY NOTHING IN SEC LAWSUIT The SEC has revised its demands that Ripple should pay $2 billion for allegedly selling XRP to investors in an illegal way. They claim that Ripple sold securities to investors without legal registration or proper disclosure that… https://t.co/OGWGz3hdgR
The #SEC is now seeking $102.6 million penalty from #Ripple, significantly reduced from the initial $2 billion sought. https://t.co/XKDR6X6SX3
Terraform Labs reached a $4.47 billion settlement with the SEC, after a jury found it liable for defrauding cryptocurrency investors in 2022. Much of the amount is unlikely to be paid https://t.co/UYtRHbgKTO https://t.co/UX3J2CEK4A
[𝕏] The SEC argues that Ripple's comparison to the Terraform Labs settlement is invalid because Terraform is in bankruptcy and agreed to severe penalties, which #Ripple has not. Ripple's proposed penalty is also much lower than the 11.7% gross profit penalty in Terraform. The… https://t.co/7z0NrFY4cx https://t.co/dTSyNYAkPZ
1+1= ? Terraform Labs and former CEO Do Kwon have agreed to a 4.5 billion dollar settlement with the SEC, which includes a ban on trading "crypto asset securities," including Terra network tokens. This case is related to the 2022 collapse of the terraUSD stablecoin (UST) and… https://t.co/ydzAKjmgtS
Ripple (@Ripple) Labs has filed a letter demanding a reduction in the SEC's requested fine from $2 billion to $10 million. The company cited the agreement between the regulator and @terra_money Labs (TFL) as an argument. On June 12, the latter agreed to pay $4.47 billion. The… https://t.co/M64AwRxU2J
ICYMI: Ripple calls SEC penalty disproportionate compared to Terraform Labs Read the full article 👇 https://t.co/peXALxIJQX https://t.co/ruvGkfcLh6
Ripple refers to SEC v. Terraform case as it seeks a lower fine in the $X amount case related to XRP securities violation. #RIPPLE #SEC #XRP
Terraform Labs PTE, Ltd. & Do Kwon agreed to pay more than $4.5B following a unanimous jury verdict holding them liable for orchestrating a years-long fraud involving crypto asset securities that led to massive investor losses when the scheme unraveled. https://t.co/B5IeUcu7Gh https://t.co/pHPrzHCB6j
Terraform Labs, Do Kwon To Pay $4.5 Billion Settlement $BTC #crypto #DoKwon #Terraform https://t.co/66fyYE5qpz via @TheDeepDive_ca
🎙️BREAKING: Terraform Labs is closing its doors after a massive $4.47 billion settlement with the @SECGov. The Terra blockchain’s future now lies in the hands of the community. https://t.co/KBVE6G59vl
Ripple Labs used the recent Terraform Labs settlement to argue that its $2 billion proposed penalty should be slashed to $10 million. Read more: https://t.co/Rs1t6eQkjo
Ripple Cites Terra Settlment in Appeal to Cut Penalty From $2 Billion to $10 Million ► https://t.co/ANwM1nEhi4 https://t.co/ANwM1nEhi4
.@Ripple calls SEC penalty disproportionate compared to Terraform Labs via @hardeyjumoh https://t.co/kwnUmnujgj
UPDATE: RIPPLE SEEKS REDUCTION IN FINES BELOW SEC'S PROPOSED $2B, CITING TERRAFORM SETTLEMENT
A United States district court judge has signed off on the $4.5 billion settlement between Terraform Labs, its co-founder Do Kwon and the Securities and Exchange Commission. Under the deal, Terraform will pay nearly $3.6 billion in disgorgement, a $420 million civil penalty and… https://t.co/end1VLYRcB
UPDATE: Terraform Labs to cease operations after $4.47 billion settlement with SEC. Community to take over. Find out more…↓ #TerraLuna #Luna #SEC (By: @ComposableD) https://t.co/wFNCEqdMsn