According to a recent Bloomberg report, Terraform Labs and its founder, Do Kwon, challenged the huge $5.3 billion penalty proposed by the Securities and Exchange Commission (SEC) in the lawsuit. Claiming that most of the firm’s stablecoins were sold overseas, the company requested the court to charge a significantly lower penalty of $1 million. On The post Terraform Labs and Do Kwon Challenge the Proposed $5.3B Penalty: Report appeared first on Coin Edition .