After two weeks of civil proceedings, the co-founder of Terraform Labs, Do Kwon, was found guilty of fraud by a jury. The U.S. Securities and Exchange Commission filed charges against Terraform Labs and Kwon in February 2023 over the Terra USD algorithmic stablecoin, which dramatically collapsed a year earlier. According to the charges, both the Singapore-based company and its co-founder, Do Hyeong Kwon, misled investors, raising billions from investors by offering and selling a package of crypto securities in interconnected transactions, often in unregistered transactions.