Terraform Labs agrees to pay $4.5 billion in settlement with the SEC.

Terraform Labs agrees to pay $4.5 billion in settlement with the SEC.

The settlement will resolve the SEC’s lawsuit that accused the bankrupt crypto firm and its former CEO Do Kwon of securities fraud. In addition to the hefty penalty, the settlement bans Terraform Labs and Kwon from buying or selling crypto assets. Kwon is still awaiting extradition in Montenegro.