The settlement involves Terraform Labs Kwon paying $4.5 billion in disgorgement and civil penalties while being permanently banned from buying and selling 'crypto asset securities,' including Terra ecosystem tokens. It's unclear if this also applies to other cryptocurrencies.
This settlement is below the SEC's first offer of $5.3 billion but much higher than the $1 million civil penalty that Terraform first proposed.
Terraform Labs CEO Chris Amani testified that the company is currently in Chapter 11 bankruptcy protection and has approximately $150 million in assets on hand.
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