Terraform Labs received approval from a U.S. bankruptcy judge to begin liquidation. Terraform estimates it will pay stakeholders about $184.50 million and $442.20 million as part of the bankruptcy.
In February 2023, the SEC filed charges against Terraform and its co-founder Do Kwon over the algorithmic stablecoin Terra USD (UST), which collapsed a year earlier. The agency said the company deceived and misled investors. Before reaching a settlement, the two sides argued over the amount of the fine. Lawyers for Terraform and Kwon said the fine should be closer to $1 million, while the SEC proposed they pay $5.30 billion.
Terraform Labs receives approval from a U.S. bankruptcy judge to begin liquidation
2024-09-19 21:59:36
Terraform labs obtain usa bankruptcy law approval start liquidationdesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Terraform Labs获得美国破产法官批准开始清算Next article：
德克萨斯州法院驳回Consensys对美SEC的诉讼
