Terraform Labs and its co-founder and CEO, Do Kwon, has been ordered by a New York judge to comply with the U.S. Securities and Exchange Commission's subpoenas relating to its investigation of Terra's mirror protocol, according to a filing dated Feb. 17. Note Terra's mirror protocol is a decentralized platform that enables users to trade synthetic assets that mimic the prices of real-world assets. Meanwhile, Terraform Labs' native token, Terra (LUNA-USD -8.8%), is falling below $50 intra-day, as bitcoin (BTC-USD -5.3%) heads toward $40K and ethereum (ETH-USD -5.6%) slides to $2.8K. Recall Terraform filed a motion in December that opposed an SEC effort to require Kwon and Terraform to cooperate with subpoenas issued in the agency's ongoing mirror protocol investigation, dubbed "In the Matter of Mirror Protocol," CoinDesk noted Thursday. Previously, (Dec. 22, 2021) Terra's open interest soared along with persistent negative funding.
SEC Hosts First-Ever Crypto Roundtable Today
