Terraform Labs, founder Do Kwon found liable in US civil fraud trial

Terraform Labs, founder Do Kwon found liable in US civil fraud trial

Police officers escort Terraform Labs co-founder Do Kwon after he served a sentence for document forgery, in Podgorica, Montenegro, March 23, 2024. REUTERS/Stevo Vasiljevic/File Photo

A jury in Manhattan found Singapore-based Terraform Labs and its founder Do Kwon liable on civil fraud charges on Friday, agreeing with the U.S. Securities and Exchange Commission that they misled investors before their stablecoin’s 2022 collapse shocked cryptocurrency markets.

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