🚨 Crisis escalates!

Terraform Labs completely ceases operations

LUNA will be completely burned 🔥

💥 The crypto world is in constant turmoil! Chris Amani, CEO of Terraform Labs, announced that the company is about to cease operations and plans to sell all projects in the Terra ecosystem, including Station Wallet and Enterprise DAO. The news triggered a strong reaction in the market, catching countless "coin circle leeks" off guard.

🔥 After reaching a huge $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC), Terraform Labs's operation can be called a "god operation". Amani revealed that the company plans to burn the entire Luna token and completely sever ties with it. "Everything left in our wallet will be burned by TFL," Amani said, and in the future, the Terra and Terra Classic blockchains will be taken over by the community, starting a community-led governance model.

⚖️ Previously, Terraform and its co-founder Do Kwon were sued by the SEC for violating federal securities laws and fraud, facing $3.58 billion in compensation and a $420 million fine. In addition, Do Kwon was banned from serving as a director or executive of any listed company. This series of penalties is undoubtedly a heavy blow to Terraform.

🔍 Can this large-scale liquidation and community takeover save the Terra ecosystem? The cryptocurrency circle is in an uproar, and "leeks" are hotly discussing it, looking forward to seeing the rebirth of blockchain projects after the crisis. This incident also reminds everyone again that "a day in the cryptocurrency circle is a year in the human world", and always pay attention to market dynamics to avoid the tragedy of "car doors being welded shut" from happening again.

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