Posted 10/31/2023, 3:00:58 AM
Kwon Seeks Dismissal of SEC Lawsuit, Calls Allegations 'Junk Science' After Terra's $40B Collapse
- Do Kwon asks judge to dismiss SEC lawsuit against him and Terraform Labs, says SEC has no evidence of wrongdoing
- Kwon's lawyers say Terra ecosystem currencies like LUNC are not securities as SEC claims
- They argue SEC made false allegations, like Kwon moving millions to Swiss bank accounts
- Kwon seeks to exclude SEC expert testimony, calls it "junk science"
- This comes after Terra's $40B collapse when its UST stablecoin lost peg in May 2022; Kwon currently detained in Montenegro