Terraform's SEC Settlement Funds Should Aid Luna Collapse Victims

IconCryptoNewsTerminal Staff13 Jun, 2024

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Terraform's SEC Settlement Funds Should Aid Luna Collapse Victims

Amidst the fallout from the Terra-Luna debacle, Etherhub co-founder Anthony Sassano believes that the $4.47 billion fine paid by Terraform Labs and Kwon Do-hyung to the U.S. Securities and Exchange Commission (SEC) should be used to compensate individuals and entities harmed by the Terra collapse. "I'm really interested to see how Terraform Labs has $4 billion. If they do, it should go to the people that they defrauded. It's useless for the SEC to get it," Sassano emphasized. This suggestion aligns with growing calls for accountability and justice for those impacted by the Terra-Luna crash. The SEC's settlement, which included Terraform Labs admitting to fraud, has fueled expectations that the funds will be directed towards victim compensation. As the investigation into the Terra collapse continues, the allocation of the settlement funds remains a critical issue, with many hoping it will provide some relief to the many individuals and businesses affected by this catastrophic event.

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