Jurors agreed with the SEC that Kwon and, under his direction, Terraform Labs deceived everyday investors about the nature of the supposed algorithm that kept UST pegged to the U.S. dollar. Though Kwon insinuated that it could “automatically self-heal” in the event of a de-peg, it actually relied on continuous trading activity, including large-scale trading done by institutional investors.
Related posts
-
Lightning Labs Rolls out Taproot Assets Seeking to Bring Stablecoins to Lightning Network
Lightning Labs, an institution dedicated to research and development... -
Georgia Man Sentenced to Prison for Cryptocurrency Computer Fraud
Steven Drawdy, 40, of Grovetown, Georgia, has been sentenced to 32 months in U.S. prison for... -
Russian-Speaking Groups Responsible for Majority of Crypto Ransomware Attacks, Illicit Drug Sales in 2023: TRM Labs
Please note that our privacy policy, terms of use, cookies, and do not sell my personal...