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flag Terraform Labs and founder Do Kwon reach tentative SEC settlement in civil fraud case involving TerraUSD stability claims and blockchain usage in a Korean mobile app.

flag Terraform Labs, a Singapore-based crypto firm, and its founder, Do Kwon, have reached a tentative settlement with the US Securities and Exchange Commission (SEC) in a civil fraud case. flag The SEC accused them of misleading investors about the stability of TerraUSD, a stablecoin, in 2021, and falsely claiming that Terraform's blockchain was used in a popular Korean mobile payment app. flag The settlement terms have not been disclosed, and the case is ongoing, with Kwon facing related criminal charges in the US and South Korea.

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