SEC Asks Court for Summary Judgement Against Do Kwon, Terraform

Terraform and Kwon also engaged in fraudulent conduct and made misleading statements, the SEC reiterated in the filing, emphasizing again that they committed fraud by misleading investors about the stability of UST, attributing falsely to their price stabilization algorithm while secretly arranging deals with third parties. intervention, making their claims about the effectiveness of the algorithm misleading and materially omitting crucial information. Terra collapsed in May last year, destroying billions of dollars of investor wealth.