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Chris Amani, the CEO of Terraform Labs, also announced that the firm will cease operations, and the community will need to take over ownership of the chain.

In a new turn in the ongoing legal dispute between Ripple and the SEC, the crypto company has invoked the recent TerraForm Labs consent judgment to challenge the regulator's demands.

LUNC price has experienced notable volatility over the past 24 hours. After a bearish downturn, the price is hovering below the $0.0001 resistance level.

Amid all this, the price of XRP has continued to decline, losing more than 10% in the last eight days.

Crypto firm Ripple has referenced the recent settlement between the US Securities and Exchange Commission (SEC) and Terraform Labs to challenge the financial regulator's proposed $2 billion penalty.

Ripple Labs Inc., a major player in the crypto currency world, has publicly challenged the U.S. Securities and Exchange Commission's (SEC) massive $4.47 billion penalty imposed on Terraform Labs and its founder, Do Kwon. Ripple argues that the fine is disproportionately high, especially considering the company's financial situation and the nature of the alleged infractions.

Ki Young Ju said that government settlements often prioritize financial gains over upholding the law while adding that $4.5 billion from Do Kwon would be impossible without him committing a financial crime.

In the ongoing high-stakes legal battle between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC), the fintech company has submitted a significant notice of supplemental authority to the Southern District of New York.

The SEC seeks $1.95 billion from Ripple as a recovery and penalty. Ripple has compared the SEC's proposed fines against it to that of the settlement sum against Terraform Labs.

Ripple Labs is fighting back against the US Securities and Exchange Commission's (SEC) $2 billion fine, calling it excessive.

A New York district court judge has rubber-stamped Terraform Labs and Do Kwon's nearly $4.5 billion settlement with the SEC.

Terraform Labs (TFL), the blockchain company at the center of a protracted legal battle with the US Securities and Exchange Commission (SEC), has decided to dissolve its operations following a landmark settlement agreement. The settlement, amounting to a staggering $4.47 billion, ended over a year of intense legal proceedings.

A new report says that the U.S. Securities and Exchange Commission (SEC) has reached a multi-billion dollar settlement with the crypto firm that played a major role in kicking off the FTX implosion. According to Reuters, the SEC has reached a $4.

Terraform Labs and ex-CEO Do Kwon to pay billions in SEC fraud settlement, marking one of the largest penalties in U.S. history.

The U.S. SEC still has to queue up behind secured creditors to receive a payment from Terraform Labs' multibillion-dollar settlement, if any.

Terraform Labs' CEO said that the company will be winding down operations following a $4.5 billion settlement agreement with the SEC.

In the latest development in the Terra lawsuit, the SEC has requested that a U.S. federal judge approve a $4.47 billion settlement to resolve the lawsuit over the firm's 2022 collapse, which wiped out $40 billion in investor assets.

Due to bankruptcy, the SEC and investors may not recover the full fines in Terraform Labs settlement.

Terraform Labs recently agreed to settle a $4.47 billion lawsuit filed against it by the US Securities and Exchange Commission (SEC) which is a significant turning point in the regulation of digital cryptocurrencies.

TL;DR Terraform Labs and its former CEO, Do Kwon, have agreed to pay $4.5 billion to the U.S. Securities and Exchange Commission (SEC) as part of a civil fraud settlement. The case revolves around the collapse of TerraUSD and TerraLuna in 2022, accused of raising funds without proper registration, violating federal securities laws.

Terraform Labs plans to dissolve, leaving the Terraform community to monitor the blockchain ecosystem. In the wake of a $4.

Terraform Labs ceases operations after a $4.47 billion settlement with the SEC, transferring control of the Terra blockchain to the community.

Following a settlement with the U.S. Securities and Exchange Commission (SEC), Chris Amani, who succeeded Do Kwon as the CEO of Terraform Labs, disclosed that the blockchain firm is set to dissolve.

Terraform Labs and its founder Do Kwon have agreed to pay a fine of $4.47 billion.