News Terra

A judge has threatened to sanction the SEC over its actions toward DEBT Box. Terra says that this development supports its request for summary judgment.

Though it has not alleged any wrongdoing, the SEC believes that the firm's involvement was instrumental in the collapse of Terra's UST stablecoin in May 2022.

While the defunct coin was up only 40% at press time, a huge spike in volume and price over the last 24 hours has drawn attention.

Montenegro court update: Do Kwon closer to facing charges in US/South Korea after UST debacle.

The regulator alleges that Terraform and Kwon orchestrated a fraudulent scheme that led to the loss of $45 billion.

Terraform Labs claims that the SEC has not provided any admissible evidence to back the allegations made in the lawsuit.

Shin is currently facing trial over his role in the collapse of the Terra ecosystem and its flagship stablecoin.

U.S. District Judge Jed S. Rakoff ordered Genesis to provide the relevant materials within five days after the company failed to comply with an earlier subpoena.