SEC charges Terraform and Do Kwon post Terra collapse

Quick Take

  • The U.S. markets regulator alleges that Do Kwon and Terraform Labs fraudulently misled investors. 

The Securities and Exchange Commission charged Terraform Labs and its CEO Do Hyeong Kwon over its algorithmic stablecoin Terra USD, which collapsed dramatically last year.  

The agency said the Singapore-based company and Kwon raised billions from investors by “offering and selling an inter-connected suite of crypto asset securities, many in unregistered transactions.” That included “mAssets,” which the SEC said are