Terraform Labs files for bankruptcy protection in US

Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday. Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million.$LUNA $LUNC $USDC #Luna/usdt #LUNC/USDT #USDC/USDT #luna/used