Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.
Terraform Labs and its co-founder, Do Kwon, are asking a federal judge to side with them in the U.S. Securities and Exchange Commission fraud case, arguing that the regulator hasn't managed to prove the crypto company was offering securities.
"After two years of investigation, the completion of a discovery period that resulted in the taking of more than 20 depositions, and the exchange of over two million pages of documents and data, the SEC is evidentiarily no closer to proving that the defendants did anything wrong," Terraform contended in its– a formal request to Judge Jed Rakoff of the U.S.
The $40 billion disaster at stablecoin issuer Terraform in 2022 marked a big first domino in a series of prominent crypto firms going under, and the company is now one of several crypto businesses currently fighting with the agency over core questions underpinning the digital assets industry.
about the catastrophic crash of his company's tokens. Kwon's lawyers are opposing any opportunity for the stablecoin creator to offer testimony, arguing that it would be"impossible" to bring Kwon to the U.S. because he remainsThe leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a.
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