tldrdailynews.com logo

"Terraform Labs, a Crypto Firm, Declares Bankruptcy in the US"

1 min read
Source: Engadget
TL;DR

Terraform Labs, the company behind the collapse of its TerraUSD and Luna stablecoins, has filed for Chapter 11 bankruptcy protection with estimated assets and liabilities in the range of $100 million to $500 million. Co-founder Do Kwon, currently jailed in Montenegro for using forged passports, faces extradition to the US to face securities fraud charges. Kwon's arrest and the company's downfall add to the list of big names in the crypto industry facing legal issues, while Coinbase continues its battle against SEC accusations.

Topics:businesscryptocurrency#bankruptcy#crypto-market#cryptocurrency#do-kwon#securities-fraud#terraform-labs
Share this article
  1. Doomed crypto firm Terraform Labs files for bankruptcy in the US  Engadget
  2. Terraform Labs files for bankruptcy protection in the U.S.  CNBC
  3. Crypto's Terraform Files for Bankruptcy as Do Kwon Awaits Fate  Bloomberg
  4. Do Kwon's Terraform Labs files for Chapter 11 bankruptcy protection  Cointelegraph
  5. Terraform Labs Declares Bankruptcy in Delaware  CoinDesk

Want the full story? Read the original reporting

Read on Engadget