Terraform Labs
Terraform Labs & Do Kwon found liable for fraud in SEC Lawsuit
In a significant development in cryptocurrencies, a jury in the United States District Court for the Southern District of New York found Terraform Labs and Do Kwon liable for defrauding investors in crypto asset securities. In an April 5 announcement, SEC Enforcement Director Gurbir Grewal said jurors in the U.S. District Court for the Southern […]
Terraform Labs Says Bankruptcy Protection Will Help Appeal SEC Lawsuit
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 […]
Do Kwon’s Terraform Labs Filed Chapter 11 Bankruptcy Protection
Do Kwon’s Terraform Labs, the company behind the now-defunct stablecoin TerraUSD (UST), has filed for bankruptcy protection in the United States. This is even as the company stays as the out-of-circulation stablecoin – TerraUSD (UST) issuer. On January 21, the firm filed a Chapter 11 bankruptcy petition in the United States Bankruptcy Court for the […]