Terraform Labs 受審 400 億美元 TerraUSD 崩盤：SEC 案件正在接受審查

Terraform Labs 因涉嫌與 TerraUSD 穩定幣崩盤相關的詐欺指控而在美國面臨民事審判，該事件導致投資者資產損失約 400 億美元。美國證券交易委員會正在尋求法院命令，禁止 Terraform Labs 和 Do Kwon 今後不再違反美國證券法，並尋求民事處罰和沒收非法所得。

Terraform Labs Faces Trial Over $40 Billion TerraUSD Collapse

Terraform Labs 面臨超過 400 億美元的審判 TerraUSD 崩潰

Will the SEC's Case Hold Water?

SEC 的案件能站得住腳嗎？

The SEC's allegations center around Terraform Labs' supposed "deceitful practices" in promoting TerraUSD. They claim the company misled investors about the stability of the stablecoin and its relationship with the Chai payment app. Terraform Labs vehemently denies these accusations, arguing that cryptocurrencies are not securities under the Howey test. The jury will weigh the evidence and determine if Terraform Labs violated US securities laws.

SEC 的指控主要圍繞在 Terraform Labs 在推廣 TerraUSD 時所謂的「欺騙行為」。他們聲稱該公司在穩定幣的穩定性及其與 Chai 支付應用程式的關係方面誤導了投資者。 Terraform Labs 強烈否認這些指控，認為加密貨幣不是豪伊測試下的證券。陪審團將權衡證據並確定 Terraform Labs 是否違反了美國證券法。

Do Kwon's Extradition Dilemma

道權的引渡困境

Where Will Kwon Face Justice?

權將在哪裡面臨正義？

Do Kwon, Terraform Labs' co-founder, remains in Montenegro while his extradition fate hangs in the balance. Criminal charges await him in both the US and South Korea. The SEC is eager to bring him to trial, but civil suits often take a backseat to criminal proceedings. Until Kwon is in US custody, a criminal trial cannot commence.

Terraform Labs 共同創辦人 Do Kwon 仍留在黑山，而他的引渡命運仍懸而未決。美國和韓國都將面臨刑事指控。美國證券交易委員會渴望將他送上法庭，但民事訴訟往往排在刑事訴訟之後。在權被美國拘留之前，刑事審判無法開始。

Whistleblowers and Key Witnesses Take the Stand

檢舉人和關鍵證人出庭作證

Who Will Spill the Beans?

誰會洩漏秘密？

Alleged whistleblowers, a Jump Trading executive, and Chai's chief product officer are expected to testify, shedding light on Terraform and Kwon's alleged deception. Text messages between Terraform executives discussing the "depeg" of TerraUSD are likely to be presented as evidence. Jump Trading's co-founder, Bill DiSomma, is also expected to take the stand.

預計舉報人、Jump Trading 高層和 Chai 的首席產品長將出庭作證，揭露 Terraform 和 Kwon 涉嫌的欺騙行為。 Terraform 高層之間討論 TerraUSD「脫鉤」的簡訊很可能會作為證據出現。 Jump Trading 的共同創辦人 Bill DiSomma 預計也將出庭作證。

Terraform's Bankruptcy Defense

Terraform 的破產辯護

Can Chapter 11 Protect Them?

第11章 能保護他們嗎？

Terraform Labs filed for Chapter 11 bankruptcy protection in January, claiming it could not pay the penalties sought by federal regulators. Do Kwon, who owns a majority stake in the company, faces a challenging task in navigating these legal battles while Terraform Labs' fate remains uncertain.

Terraform Labs 一月根據美國破產法第 11 章申請破產保護，聲稱無法支付聯邦監管機構要求的罰款。擁有該公司多數股權的 Do Kwon 在應對這些法律訴訟方面面臨著一項艱鉅的任務，而 Terraform Labs 的命運仍不確定。

Judge Rakoff's Ruling

拉考夫法官的裁決

Securities or Not?

是否有證券？

In December, US District Judge Jed Rakoff ruled that Terraform is liable for selling "unregistered securities." This aligns with the SEC's view that cryptocurrencies other than Bitcoin are securities under the Howey test. Terraform disputes this ruling, maintaining that its cryptocurrencies do not meet the definition of securities and plans to appeal.

去年 12 月，美國地區法官 Jed Rakoff 裁定 Terraform 應對出售「未註冊證券」負責。這與 SEC 的觀點一致，即比特幣以外的加密貨幣都是豪伊測試下的證券。 Terraform 對此裁決提出異議，堅稱其加密貨幣不符合證券的定義，並計劃上訴。

Terraform's Appeal

Terraform 的吸引力

Fighting Back Against the SEC

反擊 SEC

Terraform Labs intends to appeal Judge Rakoff's ruling, arguing that the SEC lacks jurisdiction over their activities. They maintain that their cryptocurrencies are not securities and should not be subject to US securities laws. The outcome of this appeal could have significant implications for the cryptocurrency industry as a whole.

Terraform Labs 打算對 Rakoff 法官的裁決提出上訴，認為 SEC 對他們的活動缺乏管轄權。他們堅稱他們的加密貨幣不是證券，不應受到美國證券法的約束。此次上訴的結果可能會對整個加密貨幣產業產生重大影響。

Conclusion

結論

The Terraform Labs trial is set to commence on Monday, and the stakes are high. The SEC's fraud allegations, the extradition dilemma surrounding Do Kwon, and the testimony of whistleblowers and key witnesses will all play crucial roles in determining the outcome of this landmark case. The implications of the trial extend beyond Terraform Labs, potentially shaping the future of the cryptocurrency industry and the regulation of digital assets.

Terraform Labs 的審判定於週一開始，風險很高。美國證券交易委員會的欺詐指控、圍繞 Do Kwon 的引渡困境以及舉報人和關鍵證人的證詞都將在決定這一具有里程碑意義的案件的結果方面發揮關鍵作用。該試驗的影響超出了 Terraform Labs 的範圍，有可能影響加密貨幣行業的未來和數位資產的監管。