Lee, a former Terraform Labs developer, testified that Shin Hyun-sung, former CEO of Chai Corporation, and Do Kwon, former CEO of Terraform Labs, acknowledged…
Judge Jed Rakoff of the U.S. District Court for the Southern District of New York has granted summary judgment over the SEC s claim that Terraform Labs, the blockchain firm co-founded by Kwon,
Shin, whose assets in South Korea were frozen by authorities, distanced himself from Kwon. He is facing trial for fraud, illegal fundraising and capital market law violation.