4 months ago
1 min read
Terraform Labs, the company known for the failed TerraUSD stablecoin declares bankruptcy
Terraform Labs Pte. filed for Chapter 11 bankruptcy in Delaware on January 21, according to court documents. The company, best known for its involvement in the ill-fated TerraUSD stablecoin, has revealed financial details, including assets and liabilities valued between $100 million and $500 million. The collapse of TerraUSD and Terra’s LUNA token in May 2022 resulted in significant losses for investors, ushering in a difficult period in the crypto world. Terraform Labs’ bankruptcy filing sheds light on the firm’s current financial situation, citing assets and liabilities valued between $100 million and $500 million. The parity of reported values emphasizes the
