Bankruptcy

Terraform Labs, the developer behind the Terra blockchain ecosystem, said its recent Chapter 11 bankruptcy filing will enable it to pursue a “do-or-die” appeal in a securities fraud case brought by the United States Securities and Exchange Commission (SEC). In a Jan. 30 filing to a Delaware Bankruptcy Court, Terraform Labs CEO Chris Amani highlighted […]

Bankrupt crypto exchange FTX has taken legal action against its former partner, LayerZero Labs, a blockchain infrastructure company, to recover $21 million in funds that were allegedly illegally withdrawn before FTX’s closure in November last year. According to court documents filed on Sept. 9, the exchange accused LayerZero Labs of wrongdoing related to transactions between […]