**Terraform Labs Officially Closes Its Books, Investors Must Bite Their Fingers!**
Terraform Labs, the company behind TerraUSD (UST) and Luna, has finally gotten the green light from the court to close its operations after reaching a settlement with the US SEC. đ
- US Bankruptcy Judge Brendan Shannon called this a "welcome alternative" to continuing to litigate over investor losses.
- Three months ago, Terraform and co-founder Do Kwon agreed to pay $4.47 billion to settle fraud allegations related to the collapse of the Terra ecosystem.
- After UST failed to maintain the $1 parity, the Luna token also fell, wiping out $40 billion in market value and causing many companies to go bankrupt.
However, the SEC may not get anything because the payment will be made after Terraform settles claims from investors and other creditors. đ
What do you think about this? Let's discuss in the comments column!
