{"id":62713,"date":"2022-06-10T08:24:58","date_gmt":"2022-06-10T05:24:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62713"},"modified":"2025-09-05T19:36:38","modified_gmt":"2025-09-05T16:36:38","slug":"media-sec-opens-investigation-into-terrausd-ust-stablecoin","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-sec-opens-investigation-into-terrausd-ust-stablecoin\/","title":{"rendered":"Media: SEC opens investigation into TerraUSD (UST) stablecoin"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has opened an investigation into the algorithmic stablecoin TerraUSD (UST), <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-09\/sec-investigating-ust-stablecoin-blowup-in-fresh-threat-to-terra?sref=AACmJ2tc\\\">Bloomberg<\/a> reports, citing sources familiar with the matter.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>According to the report, the regulator is determining whether Terraform Labs, the company behind UST, violated federal investor-protection laws in promoting the coin.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>A Terraform Labs spokesperson said they were not aware of any SEC investigation into UST.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Also, <a href=\\\"https:\/\/watcher.guru\/news\/do-kwon-sent-80-million-a-month-to-secret-wallets\\\">reported<\/a> that the SEC questioned company employees and found that, several months before Terra&#8217;s collapse, Terraform Labs&#8217; Do Kwon began transferring around $80 million per month from company funds to dozens of cryptocurrency wallets.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Separately, a U.S. court recently <a href=\\\"https:\/\/assets.law360news.com\/1500000\/1500866\/terra%202nd%20circ.pdf\\\">denied<\/a> Do Kwon&#8217;s appeal and ordered him to cooperate with authorities&#8217; investigation into the Mirror protocol.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier, after the Terra collapse, South Korean financial regulators <a href=\"https:\/\/u1f987.com\/en\/news\/terra-ecosystem-collapse-draws-regulators-attention-in-south-korea\">held an emergency meeting<\/a> to assess the consequences. According to media reports, local authorities began <a href=\"https:\/\/u1f987.com\/en\/news\/journalists-report-probe-into-terraform-labs-staff-in-south-korea\">an investigation into Terraform Labs staff<\/a> as part of the investigation.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>More on what happened to the project and its implications for the crypto industry \u2014 in our exclusive feature:<\/p>\n<p>\\n\\n\\n\\n\\n\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) has opened an investigation into the algorithmic stablecoin TerraUSD (UST), Bloomberg reports, citing sources familiar with the matter.<\/p>\n","protected":false},"author":1,"featured_media":62714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1323,128,852],"class_list":["post-62713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-investigations","tag-sec","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62713"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62713\/revisions"}],"predecessor-version":[{"id":62715,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62713\/revisions\/62715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62714"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}