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The securities fraud trial for #DoKwon and #TFL is expected to last around two weeks.
The opening statements from both sides took place today, and it was a clear statement of how each side will present their evidence.
The #SEC stated that "Terra was a fraud, a house of cards, and when it collapsed, investors lost nearly everything."
On the flip side, lawyers for the defense clearly expressed that while there was a failure within the project, that "failure doesn't equal fraud."
Of note, the #SEC is seeking financial payment as civil penalty, but more importantly, a government order that bars #DK and #TFL from future work in the "securities" industry.
Proving "fraud" can be extremely complex and difficult, so it will be interesting to see all of the evidence, from both sides, laid out.
The #SEC, under #GaryGensler, has a "checkered" history when it comes to cryptocurrency, regulation, and enforcement, so we must remember that the "evidence" that has been presented to the media thus far, was likely picked to help paint a specific narrative that fit his agenda.
Only time will tell how this will case will land, but even hearing the evidence over the next few weeks will give us a much better picture of all that happened
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