SEC 在 Terraform Collapse 最終判決中尋求 53 億美元的罰款

美國證券交易委員會 (SEC) 已要求紐約法院對 Terraform Labs 及其聯合創始人 Do Kwon 處以 53 億美元的罰款，因為他們涉嫌在 Terra 生態系統的崩潰中發揮了作用。曼哈頓陪審團先前發現，雙方對 Terra USD (UST) 和 Terraform Labs 區塊鏈應用程式的穩定性誤導投資者負有責任。 SEC 要求 Terraform Labs 和 Kwon 歸還 47.4 億美元的非法所得和預判利息，以及分別 4.2 億美元和 1 億美元的民事罰款。

SEC Files Final Judgment, Seeking $5.3 Billion in Penalties for Terraform Collapse

SEC 提交最終判決，尋求 53 億美元的 Terraform 崩潰罰款

New York, NY – March 13, 2023 – The United States Securities and Exchange Commission (SEC) has filed a motion for final judgment in a federal court in New York, seeking $5.3 billion in disgorgement, prejudgment interest, and civil penalties against Terraform Labs and its co-founder, Do Kwon, for their alleged misconduct in the collapse of the Terra ecosystem in 2022.

紐約州紐約 – 2023 年 3 月 13 日 – 美國證券交易委員會 (SEC) 已向紐約聯邦法院提交最終判決動議，要求對 Terraform Labs 追繳 53 億美元的非法所得、判決前利息和民事處罰及其聯合創始人Do Kwon 涉嫌不當行為導致2022 年Terra 生態系統崩潰。

Background

背景

On February 15, 2023, a Manhattan jury found Terraform Labs and Kwon liable on civil fraud counts, concluding that they had misled investors about the stability of Terra USD (UST), a purportedly "algorithmic" stablecoin, and the applications for the Terra blockchain.

2023 年2 月15 日，曼哈頓陪審團裁定Terraform Labs 和Kwon 承擔民事詐欺罪，並得出結論，他們在Terra USD (UST)（據稱是「演算法」的穩定幣）的穩定性以及Terra區塊鏈的應用方面誤導了投資者。

SEC's Request for Final Judgment

SEC 請求做出最終判決

In its motion, filed two weeks after the trial, the SEC seeks the following remedies:

在審判兩週後提交的動議中，美國證券交易委員會尋求以下補救措施：

• Disgorgement: $4.74 billion from Terraform Labs and Kwon, representing their alleged ill-gotten gains.
• Prejudgment Interest: To be determined by the court.
• Civil Penalties: $420 million from Terraform Labs and $100 million from Kwon.

SEC's Allegations

返還：來自 Terraform Labs 和 Kwon 的 47.4 億美元，代表他們涉嫌的不義之財。

According to the SEC, Kwon and Terraform Labs earned "over $4 billion in ill-gotten gains (and likely much more)" through their illegal conduct, which included:

根據 SEC 的說法，Kwon 和 Terraform Labs 通過非法行為賺取了“超過 40 億美元的不義之財（甚至可能更多）”，其中包括：

• Misrepresenting the stability of UST as an "algorithmic" stablecoin, backed by a reserve of Bitcoin (BTC).
• Failing to disclose the risks associated with UST and the Terra blockchain, including the potential for a "death spiral" collapse.
• Manipulating the market for LUNA, the native token of the Terra blockchain, to artificially prop up the price of UST.

Court Documents

將 UST 的穩定性歪曲為一種由比特幣 (BTC) 儲備支援的「演算法」穩定幣。 LUNA，Terra 區塊鏈的原生代幣，人為抬高UST.Court 檔案的價格

Court documents filed by the SEC show that between June 2021 and May 2022, investors purchased $2.3 billion worth of UST on various crypto asset trading platforms. Terraform Labs also sold $65.2 million worth of LUNA and $4.3 million worth of MIR tokens to institutional investors, and $1.8 billion worth of LUNA and UST through the Luna Foundation Guard (LFG).

SEC 提交的法庭文件顯示，2021 年 6 月至 2022 年 5 月期間，投資者在各種加密資產交易平台上購買了價值 23 億美元的 UST。 Terraform Labs 也向機構投資者出售了價值 6,520 萬美元的 LUNA 和價值 430 萬美元的 MIR 代幣，並透過 Luna Foundation Guard (LFG) 出售了價值 18 億美元的 LUNA 和 UST。

SEC's Rationale for Penalties

SEC 處罰的理由

The SEC argues that the requested fines are a "conservative" but "reasonable approximation" of Kwon's and Terraform's ill-gotten gains. The agency also seeks injunctions against Kwon and Terraform Labs, barring future securities violations and prohibiting any involvement with crypto asset securities. Additionally, Kwon faces an officer-and-director ban at SEC-reporting public companies.

美國證券交易委員會認為，所要求的罰款是對 Kwon 和 Terraform 的不義之財的「保守」但「合理的近似」。該機構還尋求針對 Kwon 和 Terraform Labs 的禁令，禁止未來發生證券違規行為，並禁止涉及加密資產證券。此外，Kwon 還面臨向 SEC 報告的上市公司擔任高階主管和董事的禁令。

The SEC deems these measures crucial for deterring future violations, citing defendants' lack of remorse and ongoing risk. Particularly concerning was Terraform Labs' CEO's testimony about ongoing token sales, raising doubts about compliance.

美國證券交易委員會認為這些措施對於阻止未來的違法行為至關重要，理由是被告缺乏悔意和持續的風險。尤其令人擔憂的是 Terraform Labs 執行長關於正在進行的代幣銷售的證詞，引發了人們對合規性的懷疑。

The SEC criticized Kwon's testimony as an admission of likely repeat offenses, describing it as audacious. They highlighted Terraform's distribution of a new token version, LUNA 2.0, to investors while continuing to spend millions from prior investments and engaging in further unregistered security distributions.

美國證券交易委員會批評權的證詞承認可能重複犯罪，稱其為大膽。他們強調了 Terraform 向投資者分發新代幣版本 LUNA 2.0，同時繼續從先前的投資中花費數百萬美元並參與進一步的未註冊證券分發。

SEC's Message to the Industry

SEC 向業界發出的信息

The SEC's latest action sends a clear message to the crypto asset industry that it will not tolerate fraud and abuse, and that companies and individuals responsible for such misconduct will be held accountable. The agency continues to monitor the evolving crypto asset market and will take appropriate enforcement actions to protect investors.

SEC的最新行動向加密資產行業發出了明確的訊息，即不會容忍欺詐和濫用行為，對此類不當行為負責的公司和個人將被追究責任。該機構將繼續監控不斷發展的加密資產市場，並將採取適當的執法行動來保護投資者。