The SEC has disputed the jury’s conclusion on Terraform Labs’ alleged violations and is seeking a summary judgment on all claims. The SEC argues that Do Kwon was involved in misleading investors by marketing Terra and its tokens as securities. Kwon and Terraform Labs have asked the judge to dismiss the SEC’s lawsuit, claiming that certain tokens are not securities. However, the SEC maintains that securities were offered and sold, unregistered transactions took place, and fraud was committed. Terra co-founder Daniel Shin’s lawyer blamed external attacks and Kwon’s actions for the collapse of the ecosystem, while Terra blamed market maker Citadel Securities for allegedly causing the depeg of its stablecoin. Citadel Securities denies any involvement.
Summary:
– SEC disputes jury’s conclusion on Terraform Labs’ violations and seeks summary judgment
– SEC accuses Kwon of misleading investors by marketing Terra and its tokens as securities
– Kwon and Terraform Labs request dismissal of SEC’s lawsuit, arguing certain tokens are not securities
– SEC maintains that securities were offered and sold, unregistered transactions occurred, and fraud was committed
– Terra co-founder’s lawyer blames external attacks and Kwon for ecosystem collapse
– Terra blames Citadel Securities for alleged role in depeg of stablecoin, Citadel denies involvement.
