Terraform Labs Ceases Operations; Community Assumes Control
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Terraform Labs has decided to cease operations after reaching a $4.47 billion settlement with the SEC. As part of this decision, control of the Terra blockchain is being handed over to the community.
Chris Amani, CEO of Terraform Labs, has stated that the company will shut down its operations after reaching a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC).
Chris Amani, CEO of Terraform Labs, has announced the company’s decision to cease operations following a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC). As part of this decision, Terraform Labs plans to sell off key projects within the Terra ecosystem and transfer control of the Terra blockchain to the community.
