Terraform Labs files for bankruptcy amid SEC lawsuit ...Middle East

The Hill - Technology
Terraform Labs files for bankruptcy amid SEC lawsuit
source : The Hill ( Middle East ) () 29
Terraform Labs, the company behind failed stablecoin TerraUSD, has filed for bankruptcy as it faces lawsuits from the Securities and Exchange Commission (SEC) and in Singapore. The Singapore-based crypto firm filed for Chapter 11 bankruptcy protection Sunday in Delaware, according to court documents shared with The Hill. Terraform Labs claimed assets between $100 million and $500 million and liabilities of the same monetary range. "The Terra community and ecosystem have shown unprecedented resilience in the face of adversity, and this action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding,” Terrafo

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