Lawyers for Terraform Labs plan to use Ripple’s victory in court as grounds for closing the case. Terra’s lawyers argue that the UST stablecoin was not intended to be sold.

Dentons, representing the interests of Terraform Labs and its founder Do Kwon, intends to protest
US Securities and Exchange Commission (SEC) lawsuit? issued against the company and its client for possible deception of customers and market manipulation.

The original motion to dismiss the case was first filed in April. In connection with the new circumstances, lawyers made additions, the basis for which was the victory of Ripple in court. Dentons’ lawyers also used arguments from the SEC v. Binance.US legal proceedings, as well as Hinman’s emails related to the same Ripple v. SEC case.

Even if Dentons lawyers can get the charges dropped by the SEC, Do Kwon will be extradited to South Korea in the near future. And as thousands of South Korean investors seek to recover damages, the case on charges of market manipulation and defrauding customers could be turned over to local law enforcement. Terra co-founder Do Kwon could spend the next 40 years of his life behind bars, according to South Korean prosecutors. First in his native Korea, and then in the United States.