News Explorer — Terraform Labs Files for Chapter 11 Bankruptcy

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Jan 22, 6:49 am

Techcrunch

Terraform Labs Files for Chapter 11 Bankruptcy

Singapore-based Terraform Labs, the company behind TerraUSD and Luna, has filed for Chapter 11 bankruptcy in the US following the collapse of its cryptocurrencies. The filing will enable the company to "continue its operations and support litigation," it said in a statement. Terraform Labs plans to expand its Web3 business despite the bankruptcy filing.

Singapore-based Terraform Labs, the company behind TerraUSD and Luna, has filed for Chapter 11 bankruptcy in the US following the collapse of its cryptocurrencies. The filing will enable the company to "continue its operations and support litigation," it said in a statement. Terraform Labs plans to expand its Web3 business despite the bankruptcy filing.

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