The post Terra vs SEC : Terraform Labs Presents Closing Arguments in Civil Fraud Trial Amidst Allegations of Investor Deception appeared first on Coinpedia Fintech News
The trial procedures on civil fraud against Terraform Labs and its founder Do Kwon are coming to an end as attorneys are gearing up to deliver their closing arguments.
The trial initiated and proceeded by the U.S. Securities and Exchange Commission focuses on accusations of wire fraud and scamming investors with TerraUSD, a stablecoin of Terraform’s blockchain technology.
Allegations by the SEC
The SEC has alleged that the 2021 instability of TerraUSD, a coin specifically designed to maintain a $1 value, was a deliberate move made by Terraform and Do Kwon to mislead investors and perform wire fraud.
Additionally, the SEC has also accused them of falsely claiming that Terraform’s blockchain was integrated into a popular Korean mobile payment app.
The SEC’s case alleges that Terraform and Kwon
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