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Terraform Labs must face US SEC fraud allegations, judge rules

Summary by Ground News
U.S. District Judge Jed Rakoff denied their motion to dismiss allegations. Terraform Labs and its founder Do Kwon were behind two cryptocurrencies. TerraUSD, also known as UST, slipped below its 1:1 dollar peg in May 2022. Prior to its collapse, TerraUSD had a market cap of more than $18.5 billion.

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Channel News Asia broke the news in Singapore on Monday, July 31, 2023.
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