🔴THIS MIGHT BE BAD FOR $LUNC $LUNA AND $USTC HOLDERS🔴
Terraform Labs Sets August Deadline for Bankruptcy Claims: Impact on LUNC and USTC Investors
Terraform Labs has announced that the deadline for filing claims in its Chapter 11 bankruptcy cases is August 10 at 09:00 UTC. This applies to creditors with claims against Terraform Labs Pte. Ltd. (TFL) before January 21, 2024, or Terraform Labs Ltd. (TLL) before July , 2024.
The company views its Chapter 11 petition as a strategic move to continue operations and address pending litigation, particularly with the SEC. Despite challenges, Terraform Labs has expanded its Web3 offerings, including acquisitions like Pulsar Finance and the launch of Station v3.
The structured process and filing deadlines may restore some credibility to the network, potentially driving bullish momentum for LUNC, which has surged by 3.11%, trading at $0.00007948. Terraform Labs also faces a $4.47 billion settlement with the SEC, complicating its financial recovery
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