Terra (LUNA) Chain Reborn from the Ashes? Terraform Labs Announces Acquisition of Another Company

The cryptocurrency developer has been dogged by legal issues since the collapse of algorithmic stablecoin TerraUSD, a key element of the Terra blockchain, in May last year. The United States Securities and Exchange Commission (SEC) filed a lawsuit against Terraform in February, alleging that it sold unregistered crypto asset securities and defrauded investors.

Do Kwon, former CEO of Terraform Labs, was convicted by a court in Montenegro in June for using a fake Costa Rican passport to leave the country. Terraform's former COO, Chris Amani, took over from Kwon in July

Amani also said:

“Terraform Labs never stopped developing, but after Do's departure we had to take some time to adapt our strategy. The core principle behind TFL has always been to provide benefit. We are now focusing on applying this principle to the development of a blockchain ecosystem.”