Latest News

The company approached Delaware court for the bankruptcy filing. Its estimated liabilities and assets are between $100 million and $500 million.

The bankruptcy filing comes after a US federal judge ruled last month that Terraform Labs' LUNA and MIR tokens qualify as securities.

Terraform Labs, the company behind LUNA and stablecoin UST, has filed for bankruptcy in the United States District of Delaware after seeming to recover from the collapse of the Terra ecosystem in May 2022.

Terraform Labs (TFL), the company behind the TerraUSD (UST) stablecoin that collapsed the cryptocurrency market in 2022, has filed for Chapter 11 bankruptcy in Delaware, United States, according to court papers filed on Sunday. Terraform Labs chief executive officer (CEO) Chris Amani the move is important for the company and its investors.

Terraform Labs recently lost a case when a U.S. judge ruled that LUNA and MIR are securities, and is currently facing a class action lawsuit in Singapore.

Terraform Labs, the parent company of the defunct stablecoin TerraUSD, has submitted a petition for Chapter 11 bankruptcy protection in the United States. What Happened: Do Kwon co-founded Terraform Labs lodged an official request for Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the District of Delaware, reported Cointelegraph on Monday.

The challenges facing Terraform Labs and its founder Do Kwon recently escalated after the Montenegro justice system approved the extradition to the United States or South Korea.

Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets in 2022, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday.

The defunct company's assets and liabilities, disclosed in Terraform Labs bankruptcy protection, range between $100 million and $500 million.

Terraform Labs Pte. Lte. filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on Jan. 21.

The firm claims to have between $100 million and $500 million in both estimated assets and liabilities.

Terraform Labs, the company behind the stablecoin TerraUSD, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday.

Crypto Price Prediction: The cryptocurrency market is experiencing relative stability during the weekend, following a bearish trend earlier in the week. This downturn saw Bitcoin, the largest cryptocurrency, fall from a high of $49,000 to $40,300, marking a 17.85% loss.

The current price action is closely tied to the 200-day EMA, a critical zone. Despite these challenges, buyers are actively involved in forming a potential bottom.

The Terra Luna Classic (LUNC) community proposal to restore the number of validators to 130 was officially rejected. It became one of the two key proposals turned down by the community that would have helped boost the utility and security of the Terra Classic chain.

This comes at a challenging time for LUNC, trying to bounce back from the Terra LUNA crash and notable surges in late 2023. However, the wider crypto community seems to be losing faith in the struggling LUNC ecosystem.

In a decision that stirred up the crypto community, cryptocurrency exchange Crypto.com announced the suspension of Terra Luna Classic (LUNC) trading. Through an email sent to U.S. residents, Crypto.com urges customers to sell or withdraw their LUNC tokens before February 15.

Holder alert: Terra Classic trading to be suspended on Crypto.com, according to the email sent to American clients.

The Terra tokens continue to display a neutral trend for over two weeks, indicating a disinterest of the investors in it. Further, the LUNC price has recorded a loss of 9%, resulting in it breaking down its crucial support level. The Terra LUNC price traded in a closed range between $0.0001561 and $0.

The crypto market witnessed a broader selloff on Friday, causing the global crypto market cap to fall almost 4% to $1.61 trillion. The Friday's expiry wreaks havoc on traders and investors, with nearly $250 million liquidated over the last 24 hours.

The LUNC community has experienced a setback in their plans to revive the crypto token following the rejection of a proposal that was believed to be beneficial to the ecosystem. This latest proposal joins a growing list of proposals that have been put forward in a bid to restore LUNC to its previous highs.

The Terra Luna Classic (LUNC) community recently faced a setback as two crucial proposals aimed at enhancing the utility and security of the Terra Classic chain were rejected. Notably, a leading validator with 15% voting power, alongside other validators, voted against the proposals.

The Terra Luna Classic (LUNC) community rejected two key proposals that would have helped boost the utility and security of the Terra Classic chain. A top validator with 15% voting power and other validators voted against the proposal, opposing the objective to introduce Ethereum virtual machine (EVM) support and restore validators count to 130.

In recent strategic strides, the Terra Classic community announces a groundbreaking feat for its token within the broader crypto sphere.