Terraform Labs Secures Court Approval to Wind Down Operations

Terraform Labs, the company behind TerraUSD (UST) and Luna, has secured court approval to wind down operations in bankruptcy after settling with the United States Securities and Exchange Commission (SEC). According to a Reuters report, the wind-down plan was approved by US Bankruptcy Judge Brendan Shannon, who called it a “welcome alternative” to further litigation over investors’ losses. The development comes three months after Terraform and co-founder Do Kwon reached a $4.47 billion agreement with the SEC to settle fraud charges related to the collapse of the Terra ecosystem. 

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