More Pain for Terra: Do Kwon Ordered to Comply with SEC Probe

Do Kwon, the figurehead of Terraform Labs, faces mounting legal pressure. A US federal judge has ordered Kwon to comply with an earlier SEC subpoena that he sought to avoid, signaling more pain for the already embattled Terraform ecosystem. This development follows closely on the heels of significant setbacks for Kwon and his company.

The United States District Court in New York has ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas issued by the U.S. Securities and Exchange Commission (SEC). This order reinforces the SEC's pursuit of information related to its ongoing investigation.

SEC Investigation Intensifies

The SEC began investigating a Terraform Labs project, Mirror Protocol, last year. This probe is a critical component of the broader scrutiny facing Terraform and Do Kwon.

Terraform and Kwon Found Liable for Securities Fraud

Adding to Kwon's woes, On Ap, a jury unanimously found Terraform and Kwon liable for securities fraud after less than two hours of deliberation. This verdict represents a significant legal defeat and further complicates Kwon's situation.

Court Orders Compliance with SEC Subpoenas

A U.S. District Court judge in New York ordered Terraform Labs and its CEO Do Kwon to comply with subpoenas the U.S. Securities and Exchange Commission (SEC) had previously issued. This court order mandates Kwon's cooperation in the ongoing investigation, potentially leading to further revelations and consequences.

As part of the settlement, Terraform... (Further details on the settlement to be added as they become available). This order to comply with the SEC probe represents yet another hurdle for Kwon and Terraform Labs as they navigate a complex and challenging legal landscape.