Coinbase’s Chief Legal Officer, Paul Grewal, has criticized the recent $4.47 billion settlement between the SEC and Do Kwon and Terraform Labs regarding Terra (LUNA). The investigation, which led to significant losses for cryptocurrency investors, has now concluded with the SEC agreeing to a compensation of $3.58 billion and $420 million in penalties. Grewal expressed dissatisfaction with the settlement, noting that Kwon’s assets only amount to $7 million, questioning why the funds are going to the SEC rather than the victims of Terra’s collapse. This sentiment was echoed by Zach Rynes from the Chainlink (LINK) community, who also questioned the allocation of the settlement funds. The SEC’s handling of the case has raised concerns about the protection of investors and the lack of support for those affected by the Terra incident.
