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Philippines (Tagalog) / 40$ billion Fraud but 4.5$ billion Settlement?
« on: June 18, 2024, 06:33:22 AM »
From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
according to CNBC.com report https://www.cnbc.com/2024/06/16/inside-latest-crypto-firm-paying-billions-to-end-legal-troubles-.html
Months before Sam Bankman-Fried and the FTX fraud was exposed, and years before Binance and its founder, Changpeng Zhao, would admit fault and settle with the U.S. for several billion dollars, Do Kwon was widely regarded as crypto’s top villain for nearly dismantling the entire sector with his failed U.S. dollar-pegged stablecoin.
It was May 2022, and Kwon was riding high. His company, Terraform Labs, was behind one of the most popular U.S.-pegged stablecoins on the planet, the venture funding was rolling in, his coins (dubbed terra and luna) were collectively worth tens of billions of dollars, and like Bankman-Fried, Kwon had landed a spot on the prestigious Forbes 30 under 30 list.
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If that is true then Do Kwon is paying the amount more than how much Binance settled in SEC?
and that proves how Security and exchange commission is milking the crypto space all these years.
according to CNBC.com report https://www.cnbc.com/2024/06/16/inside-latest-crypto-firm-paying-billions-to-end-legal-troubles-.html
Months before Sam Bankman-Fried and the FTX fraud was exposed, and years before Binance and its founder, Changpeng Zhao, would admit fault and settle with the U.S. for several billion dollars, Do Kwon was widely regarded as crypto’s top villain for nearly dismantling the entire sector with his failed U.S. dollar-pegged stablecoin.
It was May 2022, and Kwon was riding high. His company, Terraform Labs, was behind one of the most popular U.S.-pegged stablecoins on the planet, the venture funding was rolling in, his coins (dubbed terra and luna) were collectively worth tens of billions of dollars, and like Bankman-Fried, Kwon had landed a spot on the prestigious Forbes 30 under 30 list.
____________________________________________
If that is true then Do Kwon is paying the amount more than how much Binance settled in SEC?
and that proves how Security and exchange commission is milking the crypto space all these years.