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CryptoIntelligence 2024-06-14 05:01:00

SEC May Receive Only a Fraction of Multibillion-Dollar Terraform Labs Settlement

The United States Securities and Exchange Commission (SEC) might receive only a fraction of its multibillion-dollar settlement with Terraform Labs. A report by The Wall Street Journal revealed that in January, Terraform had assets valued at $430.1 million against liabilities of $450.9 million when it filed for bankruptcy. As part of a settlement disclosed on June 12, Terraform Labs agreed to pay the SEC approximately $4.47 billion. This amount includes disgorgement fines of about $3.6 billion, a civil penalty of $420 million, and prejudgment interest nearing $467 million. However, the settlement still awaits court approval. In bankruptcy proceedings, claim priorities

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