Major Crypto Shock: SEC Takes Action Against Terraform Labs! $4.47 Billion Settlement 💥 LUNC Becomes the Focus!
The U.S. Securities and Exchange Commission (SEC) imposed a $4.47 billion fine on Terraform Labs and Do Kwon, following the TerraUSD (UST) and Luna crisis in 2022 😱💸.
🔥 Highlights from the settlement:
💰 $4.05B — Recovery + Interest | $420M — Civil Penalty
🏦 Do Kwon must deposit over $204M into the bankrupt Terraform company
🚫 Lifetime ban from serving as a director/officer in public companies
📜 Ban on participating in crypto activities as a class of securities
⚡ Terraform will submit a liquidation plan under Chapter 11
👀 Its effects on LUNC / TerraClassic:
✅ Now under community management, but legal and reputational issues still persist. SEC set a precedent — crypto tokens face strict scrutiny as securities
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#ETHBreaksATH #BinancehodlerSOMI #MarketPullback
