ChainCatcher reported that according to The Block, the U.S. Securities and Exchange Commission has released an information page specifically for investors affected by Terraform Labs.
The SEC said it has been receiving questions from investors about how compensation will be paid since the two parties reached a settlement last month. The SEC said on its website that it will not receive any compensation until investors and creditors receive full compensation from the corresponding bankruptcy case. The Chapter 11 plan confirmation hearing and start date are expected to be held in the fall.
It is reported that in June this year, Terraform Labs reached a settlement with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a fine of $4.47 billion to the SEC. Terraform will recover $3.58 billion in illegal gains and pay a civil fine of $420 million, and its co-founder Do Kwon will be prohibited from serving as an executive or director of a listed company. Do Kwon must also pay $204 million to compensate damaged investors.