Terraform Labs received court approval for bankruptcy proceedings today.
The Fate of LUNA Coin and Terra
Terraform Labs received court approval for bankruptcy proceedings today. The organization reached an agreement with the SEC, signing three key conditions: the establishment of a liquidation trust to orderly settle debts, the SECâs claim fixed at $4.4 billion, and that the SECâs demands will only be addressed after permitted unsecured claims and crypto loss reimbursements are covered. This means the SEC will not receive penalties from this bankrupt company.
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