Why One Crypto Company Is Suing the SEC

Do Kwon and Terraform Labs are suing the Securities and Exchange Commission for due process violations resulting from a recent subpoena.

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This episode is sponsored by NYDIG.

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At Messari’s Mainnet conference in September, rumors flew that the U.S. Securities and Exchange Commission had served a subpoena on a decentralized finance (DeFi) protocol founder moments before he was set to speak on stage. The rumors were confirmed late last week when Terraform Labs and CEO Do Kwon filed a lawsuit against the SEC for due process violations. On today’s episode, NLW breaks down the lawsuit, the community’s response and what the precedent and outcome might mean for the industry going forward.

“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Exit” by Isaac Joel. Image credit: Brendan Hoffman/Getty Images News, modified by CoinDesk.

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.