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Doomed crypto firm Terraform Labs files for bankruptcy in the US
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Doomed crypto firm Terraform Labs files for bankruptcy in the US
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22nd January 2024, 08:34
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 153,575
 |  Doomed crypto firm Terraform Labs files for bankruptcy in the US Terraform Labs, the company that wiped out $40 billion from the crypto market with the collapse of its TerraUSD and Luna stablecoins, has finally filed for Chapter 11 bankruptcy protection on Sunday. Bloomberg reports that the crypto firm's estimated assets and liabilities are both in the range of $100 million to $500 million, with the estimated number of creditors being somewhere between 100 and 199. Co-founder and former CEO Do Kwon is listed as the majority shareholder at 92 percent, with an address registered in Singapore — where the company is incorporated. https://www.engadget.com/doomed-cryp...7.html?src=rss |
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