SEC 在 Terraform Collapse 最终判决中寻求 53 亿美元的罚款

美国证券交易委员会 (SEC) 已要求纽约法院对 Terraform Labs 及其联合创始人 Do Kwon 处以 53 亿美元的罚款，因为他们涉嫌在 Terra 生态系统的崩溃中发挥了作用。曼哈顿陪审团此前发现，双方对 Terra USD (UST) 和 Terraform Labs 区块链应用程序的稳定性误导投资者负有责任。 SEC 要求 Terraform Labs 和 Kwon 归还 47.4 亿美元的非法所得和预判利息，以及分别 4.2 亿美元和 1 亿美元的民事罚款。

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

SEC 提交最终判决，寻求 53 亿美元的 Terraform 崩溃罚款

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.

纽约州纽约 – 2023 年 3 月 13 日 – 美国证券交易委员会 (SEC) 已向纽约联邦法院提交最终判决动议，要求对 Terraform Labs 追缴 53 亿美元的非法所得、判决前利息和民事处罚及其联合创始人 Do Kwon 涉嫌不当行为导致 2022 年 Terra 生态系统崩溃。

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，曼哈顿陪审团裁定 Terraform Labs 和 Kwon 承担民事欺诈罪，并得出结论，他们在 Terra USD (UST)（一种据称是“算法”的稳定币）的稳定性以及 Terra 区块链的应用方面误导了投资者。

SEC's Request for Final Judgment

SEC 请求做出最终判决

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

在审判两周后提交的动议中，美国证券交易委员会寻求以下补救措施：

• 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

返还：来自 Terraform Labs 和 Kwon 的 47.4 亿美元，代表他们涉嫌的不义之财。预判利息：由法院确定。民事处罚：来自 Terraform Labs 的 4.2 亿美元和来自 Kwon 的 1 亿美元。SEC 的指控

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:

根据 SEC 的说法，Kwon 和 Terraform Labs 通过非法行为赚取了“超过 40 亿美元的不义之财（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

将 UST 的稳定性歪曲为一种由比特币 (BTC) 储备支持的“算法”稳定币。未能披露与 UST 和 Terra 区块链相关的风险，包括“死亡螺旋”崩溃的可能性。操纵市场LUNA，Terra 区块链的原生代币，人为抬高 UST.Court 文件的价格

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 提交的法庭文件显示，2021 年 6 月至 2022 年 5 月期间，投资者在各种加密资产交易平台上购买了价值 23 亿美元的 UST。 Terraform Labs 还向机构投资者出售了价值 6520 万美元的 LUNA 和价值 430 万美元的 MIR 代币，并通过 Luna Foundation Guard (LFG) 出售了价值 18 亿美元的 LUNA 和 UST。

SEC's Rationale for Penalties

SEC 处罚的理由

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.

美国证券交易委员会认为，所要求的罚款是对 Kwon 和 Terraform 的不义之财的“保守”但“合理的近似”。该机构还寻求针对 Kwon 和 Terraform Labs 的禁令，禁止未来发生证券违规行为，并禁止涉及加密资产证券。此外，Kwon 还面临向 SEC 报告的上市公司担任高管和董事的禁令。

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.

美国证券交易委员会认为这些措施对于阻止未来的违法行为至关重要，理由是被告缺乏悔意和持续的风险。尤其令人担忧的是 Terraform Labs 首席执行官关于正在进行的代币销售的证词，引发了人们对合规性的怀疑。

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.

美国证券交易委员会批评权的证词承认可能重复犯罪，称其大胆。他们强调了 Terraform 向投资者分发新代币版本 LUNA 2.0，同时继续从之前的投资中花费数百万美元并参与进一步的未注册证券分发。

SEC's Message to the Industry

SEC 向行业发出的信息

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的最新行动向加密资产行业发出了明确的信息，即不会容忍欺诈和滥用行为，对此类不当行为负责的公司和个人将被追究责任。该机构将继续监控不断发展的加密资产市场，并将采取适当的执法行动来保护投资者。