Golden Finance reported that Terraform Labs has been approved by a U.S. bankruptcy judge to begin liquidation. Terraform estimates that it will pay approximately $184.5 million and $442.2 million to stakeholders as part of the bankruptcy. In February 2023, the SEC filed charges against Terraform and its co-founder Do Kwon over the algorithmic stablecoin Terra USD (UST), which collapsed a year ago. The agency said the company deceived and misled investors. Before reaching a settlement, the two sides argued over the amount of the fine. Lawyers for Terraform and Kwon said the fine should be close to $1 million, while the SEC proposed that they pay $5.3 billion.