Securities and Exchange Commission v. Terraform Labs Pte Ltd. et al

  1. April 01, 2024

    Spinning For Terraform Was Tough, Crypto Rep Tells Jury

    A California man who worked for Terraform Labs and creator Do Kwon told a Manhattan federal jury Monday that doing public relations for the now-bankrupt cryptocurrency startup accused of fraud left him "angry" and confused as he tried to be transparent.

  2. March 29, 2024

    What's Next On Courts' Crypto Docket After Bankman-Fried

    The 25-year prison sentence for FTX founder Sam Bankman-Fried left the crypto industry one step closer to putting the fallout of "crypto winter" behind it, but there are still other cases with broad implications for the industry set to take over Manhattan courtrooms soon.

  3. March 27, 2024

    Terraform Loses Mistrial Bid After Rakoff Query About 'Lying'

    Manhattan U.S. District Judge Jed S. Rakoff on Wednesday rejected a mistrial bid by counsel for Terraform Labs and creator Do Kwon centering on the judge's move to ask an investor if the bankrupt crypto startup had disclosed potential risks about "lying" to the public.

  4. March 26, 2024

    Terraform Backer Tells Jury His Firm Lost Big On $36M Stake

    A Boston venture capitalist told the Manhattan federal jury hearing fraud claims against Terraform Labs and its creator Do Kwon on Tuesday that his former company confidently invested $35.9 million in the crypto startup based on representations that regulators say were false.

  5. March 25, 2024

    Terraform Failure In Crypto Crash Wasn't Fraud, Jury Told

    Counsel for Terraform Labs creator Do Kwon told a Manhattan federal jury Monday that Kwon believed in his technology and told the truth, pushing back against claims that he lied about the stability and business prospects of his bankrupt cryptocurrency startup.

  6. March 22, 2024

    5 Things To Know As SEC Takes Terraform Fraud Case To Trial

    The U.S. Securities and Exchange Commission's suit against collapsed cryptocurrency project Terraform and its creator Do Kwon takes center stage next week in U.S. District Judge Jed Rakoff's courtroom in Manhattan, and at its heart is a question of whether the business deceived investors in the lead-up to the collapse that helped set off the so-called crypto winter.

  7. March 12, 2024

    Terraform Can Retain Dentons In Ch. 11, Firm Will Return $48M

    Terraform Labs can hire Dentons US LLP as its special counsel in its Chapter 11 case, a Delaware federal bankruptcy judge ruled Tuesday, with the firm agreeing to return $48 million of a $70 million retainer that was hit with objections.

  8. March 05, 2024

    Terraform Says Creditors Sabotaging Dentons Retention

    A Delaware bankruptcy judge on Tuesday allowed Terraform Labs unsecured creditors time to catch up on a dispute over the debtor's Denton's retention, a request Terraform dubbed "sabotage" of its defense in an upcoming $40 billion securities fraud trial.

  9. January 31, 2024

    Terraform Says Impending SEC Fine Proves It's In Distress

    Cryptocurrency company Terraform Labs told a Delaware bankruptcy judge on Wednesday the mere fact it could face a ruinous U.S. Securities and Exchange Commission fine in the future justifies Chapter 11 protection today, arguing a recent judgment in favor of the regulatory agency attests to its financial distress.

  10. January 30, 2024

    Terraform Will Use Ch. 11 To Craft Appeal Of SEC Crypto Case

    An executive for crypto company Terraform Labs told the Delaware bankruptcy court Tuesday it has sought Chapter 11 protection mainly to delay a potentially existential U.S. Securities and Exchange Commission penalty tied to the implosion of its algorithmic stablecoin, the collapse of which in 2022 provoked a widespread crash in cryptocurrency markets.