Posted 1/22/2024, 7:30:00 PM
Terraform Labs Files for Bankruptcy Amid Fallout From TerraUSD Stablecoin Collapse
- Terraform Labs, creator of failed stablecoin TerraUSD, has filed for bankruptcy amid SEC lawsuit
- Filing made in Delaware court; company claims assets and liabilities between $100M-$500M
- Terraform CEO says filing allows them to keep working while resolving legal issues
- Company and founder Do Kwon face lawsuits from SEC, Singapore over crypto collapse in 2022
- TerraUSD and Luna tokens wiped out over $44B in investor value when they crashed last May