Happycoin.club - Chris Amani, who now heads the notorious company Terraform Labs, announced that the organization’s activities are being discontinued. He also notified users that projects such as Pulsar Finance, Station Wallet and Enterprise DAO running in the Terra ecosystem will be transferred to the community.

Chris Amani promised to provide more information about further actions, but only after the trial in federal court in New York is completed. Let us remind you that the company and the US Securities and Exchange Commission (SEC) reached an agreement according to which Terraform Labs undertakes to pay a fine of over $4.4 billion.

Interesting fact: the founder of Terraform Labs, Do Kwon, is still in Montenegro, where his lawyers are seeking the cancellation of extradition to the United States and South Korea. The country's courts periodically overturn extradition decisions and remand the case for reinvestigation.

The decision to close Terraform Labs was met with understandable dissatisfaction in the community. For example, investor Anthony Sassano said that the company could spend billions of dollars not on paying fines to the regulator, but on compensating users affected by the collapse of the project. However, Terraform Labs preferred to resolve the issue with the American agency rather than support investors.