The U.S. SEC will hold a court debate on the compensation plan for the fraud case involving Terraform Labs and Do Kwon on May 22

ChainCatcher news, according to Cointelegraph, after a jury found Terraform Labs and its co-founder Do Kwon liable in a fraud case with the U.S. SEC, a federal judge in the United States ordered the parties to discuss compensation proposals ranging from millions to billions of dollars. Court documents show that Judge Jed Rakoff of the U.S. District Court for the Southern District of New York stated that the SEC, Kwon, and Terraform's lawyers should appear in court on May 22 to debate the compensation proposals.

Previously, the parties had submitted their respective requests regarding disgorged profits, pre-judgment interest, and civil penalties, but the judge allowed the parties to supplement their materials before the court appearance. The SEC is seeking approximately $4.7 billion in disgorged profits and pre-judgment interest, as well as a total of $520 million in civil penalties; Terraform's legal team suggested a civil penalty of $1 million with no disgorged profits.