Terraform Labs to Wind Down Operations Amid SEC Settlement
50X Profit Potential With BRED Token, Convert your 100 usd to 5000 USD, Pre Sale Price Is Live, Pre Sale Price Is $0.01 And Exchange Listing Price $0.50, This Is 50X Profit Opportunity, Don't Miss This Pre Sale, Join Now Pre Sale At Official Website, WWW.BREDTOKEN.XYZ
Terraform Labs (TFL), the company behind the Terra blockchain, is entering its final chapter as it begins winding down operations. According to a post on X, this move follows a settlement with the U.S. Securities and Exchange Commission (SEC) and the impending implementation of a Chapter 11 bankruptcy plan.
Terra Blockchain Evolution Now Rests on Community Developers
As a result, Proposal 4818 will mark the final chain upgrade from TFL, signaling the company’s exit from active involvement in the blockchain’s maintenance and development. As TFL steps back, the Terra blockchain’s future will now be shaped by community-driven initiatives. Among these initiatives is the Phoenix Directive, which has emerged as a leading framework designed to take over maintenance and operational responsibilities.
Proposal 4818 signifies a significant shift for Terraform Labs, signaling a new chapter where the community assumes control. Due to TFL’s legal constraints, the ongoing development of the Terra blockchain now depends primarily on community developers and dedicated leaders who are enthusiastic about the project’s future.
SEC Seeks Billion in Penalities From Terraform Labs
In April, the US SEC filed a motion requesting billions of dollars in disgorgement and civil penalties against Terraform Labs and its co-founder, Do Kwon, following a verdict in its civil case.
