A judge has denied Terraform’s motion to dismiss a case filed against them by the SEC. The judge ruled that the SEC’s allegations of unregistered securities offerings and fraud have merit and there is enough evidence to pursue the charges. The judge cited the SEC’s evidence that the defendants had the motive to mislead investors about the utility of their crypto-assets. Despite citing a recent Ripple ruling, the judge concluded that the SEC has pled sufficient facts to support their case.
AI Sentiment: Negative