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Terraform Labs, the brain behind Terra blockchain, has gained court approval to wind down operations amid bankruptcy. U.S. Bankruptcy Judge Brendan Shannon okayed the plan, marking a key moment in their legal saga.
- **Settlement Reached:** Terraform settled with the SEC for $4.47B, a âwelcome alternativeâ to prolonged litigation.
- **Payouts Expected:** Creditors to receive between $184.5M and $442.2M.
- **CEO Speaks:** Chris Amani confirmed the companyâs dissolution is in its final stages.
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