Yugocean
Valued Contributor
The "US Court of Appeals for the Second Circuit" on June 9, 2022 (Thursday) dismissed Terraform Labs CEO Do Kwon's appeal against a subpoena issued to him by Securities and Exchange Commission (SEC) in connection with an investigation into the use of the "Mirror Protocol" to market "unregistered securities."
In September 2021, SEC served Do Kwon with the said subpoena when he visited New York City for a conference. TerraForm Labs was papular among crypto enthusiastics back then, so Do Kwon got support from crypto community.
By taking advantage of his popularity, in his filing in October, Kwon accused the SEC of breaking multiple rules, he even objected the court's jurisdiction over TerraForm Labs; however, in February, US court dismissed his appeal. and now second appeal is also dismissed.
Since the destruction of Luna in May 2022, Do Kwon has become a villain for crypto investors, so he enjoys no sympathy, and is on his own without respite.
In September 2021, SEC served Do Kwon with the said subpoena when he visited New York City for a conference. TerraForm Labs was papular among crypto enthusiastics back then, so Do Kwon got support from crypto community.
By taking advantage of his popularity, in his filing in October, Kwon accused the SEC of breaking multiple rules, he even objected the court's jurisdiction over TerraForm Labs; however, in February, US court dismissed his appeal. and now second appeal is also dismissed.
Since the destruction of Luna in May 2022, Do Kwon has become a villain for crypto investors, so he enjoys no sympathy, and is on his own without respite.
