From Dow Jones & Company:

The collapse of TerraUSD and Luna crypto coins led to Terraform Labs filing for chapter 11 bankruptcy protection. Co-founder Do Kwon has been charged by the U.S. SEC with defrauding investors. In May 2022, the stablecoins collapsed, wiping out over $40 billion in market capitalization. Terraform cited estimated assets between $100 million and $500 million, and the same range in liabilities. Kwon’s trial was postponed until April, to allow time for his extradition to the U.S from Montenegro. Co-founder Daniel Shin was indicted by South Korea in April 2023.



Read more: Terraform Labs files for bankruptcy following crash of its stablecoins in 2022