🚀 Crypto News:

- US judge approves Terraform Labs bankruptcy plan 🇺🇸

- Company files for Chapter 11 protection in January with estimated debts of $100-$500 million

- Judge Shannon calls it a “welcome alternative” to litigation

- Terraform collapses due to instability of UST stablecoin and claims by founder

- Other companies like BlockFi, FTX, Celsius also bankrupt in 2022

- Terraform and Do Kwon fined $4.5 billion in April 2024 for defrauding investors

- Bankruptcy plan proposes to pay $185-$442 million but total damages “unable to estimate”

- Do Kwon arrested in Montenegro, awaiting extradition to the US or South Korea

💬 What do you think about the future of BTC and the crypto market? Share your thoughts!#CryptoNews#Blockchain #BTC