Terraform Labs Sets Crucial October 30 Deadline For #TerraClassic Users
#TerraformLabs (TFL), the foundational entity behind the once-prominent ecosystem, has issued a significant alert for users of its Terra Classic platform. This comes in the wake of the historic collapse of its algorithmic #stablecoin UST and its companion cryptocurrency $LUNA , which precipitated a market implosion wiping out around $40 billion in value last year. Currently embroiled in chapter 11 #bankruptcy proceedings, the company continues to manage fallout and transition plans, including significant system updates and asset management protocols.