Terra co-founder Do Kwon faces $57-million lawsuit in Singapore

[Google News Bot]

Do Kwon, the co-founder of Terraform Labs who may be facing legal actions in South Korea and the United States, is also the target of a lawsuit in Singapore along with the Luna Foundation Guard, or LFG, and Terra founding member Nicholas Platias. In a lawsuit filed in Singapore’s high court on Sept. 23, 359 individuals alleged Kwon, Platias, LFG, and Terra made fraudulent claims including that Terra’s stablecoin TerraUSD (UST) — now TerraUSD Classic (USTC) — was not “stable by design” and unable to maintain its U.S. dollar peg. The claimants sought compensation for roughly $57 mil ...

Continue reading the above news article, by clicking here.

Administration and Moderation NOTE: A Reminder, the above news is provided for free, through a RSS Feed. The above quote does NOT include the full story. In order to continue to read more past what is quoted, please click through to the article, by clicking on the link provided above through the "continue reading" text.

Please be sensible and follow our terms of service and rules, when replying and debating the news article.