Terraform Labs, the company behind TerraUSD (UST) and Luna, has received court approval to wind down its operations in bankruptcy! 🎉
- US Bankruptcy Judge Brendan Shannon called the decision a “welcome alternative to further litigation.”
- Three months ago, Terraform and founder Do Kwon reached a $4.47 billion settlement with the SEC.
- Luna also crashed after TerraUSD crashed in May 2022, causing a market loss of $40 billion.
Share your thoughts in the comments! 💬👇