Terraform Labs has agreed to pay the United States Securities and Exchange Commission roughly $4.47 billion as part of its settlement with the securities regulator. The total remedies include disgorgement fines of roughly $3.6 billion, a civil penalty of $420 million and prejudgement interest of nearly $467 million. 

Do Kwon is liable for $110 million in disgorgement penalties and roughly $14.3 million in pre-judgment interest fines in accordance with the settlement plan.

The settlement was reached after a jury found Terraform Labs and its co-founder liable for the Terra ecosystem collapse, which erased $40 billion in investor assets.

The settlement filing read: “Payment of the monetary remedies against Kwon shall be deemed satisfied, provided that all transfers by Kwon to the SEC and the Terraform bankruptcy estate in the Bankruptcy Case total no less than $204,320,196, excluding the value of any Terraform Crypto Assets transferred to the Terraform bankruptcy estate, only if and until Kwon completes: (1) transferring into an escrow account agreed by Kwon and the Commission staff $4,700,000 within 30 days of Final Judgment.”

The settlement filing also stipulated the transfer of all crypto assets belonging to the Luna Foundation Guard and all PYTH token holdings from Kwon to cover the cost of the disgorgement fines and prejudgement interest, with any remaining amount from the sale of these assets to be applied to the civil penalty fines.

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This is a developing story, and further information will be added as it becomes available.