• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

I Had No Clue This Was Happening…

2025-07-24

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    2025-07-25

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09
  • Videos

    Major Signal Flashed!!!

    2025-07-25

    I Had No Clue This Was Happening…

    2025-07-24

    Why Bitcoin’s Going Vertical: $100M Mat, Debt Spiral, + ETF Surge!

    2025-07-24

    Trump’s Fed Visit Could Ignite Bitcoin’s Biggest Rally Yet

    2025-07-24

    What Happens If You Buy Bitcoin Daily? (You’ll Be Shocked!)

    2025-07-24
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Regulation»Crypto Company Terraform Labs Files for Chapter 11 Bankruptcy Protection
Regulation

Crypto Company Terraform Labs Files for Chapter 11 Bankruptcy Protection

2024-01-23No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Crypto Company Terraform Labs Files for Chapter 11 Bankruptcy Protection
Share
Facebook Twitter LinkedIn Pinterest Email

Collapsed crypto company Terraform Labs has filed for Chapter 11 bankruptcy in the United States.

The firm submitted a voluntary petition to the U.S. Bankruptcy Court for the District of Delaware.

The document, which was filed on Sunday, indicates Terraform Labs has between 100-199 creditors, owns between $100,000,001-$500 million in estimated assets, and owes between $100,000,001-$500 million in estimated liabilities.

The document also indicates disgraced Terra founder Do Kwon holds 92% of the company’s shares, while Daniel Shin, who co-founded Terraform Labs with Kwon, holds 8%.

In a press release, the company claims the bankruptcy filing is a “strategic step that will enable it to continue its operations and support for the Terra community and ecosystem.”

Current Terraform Labs chief executive Chris Amani says the Terra community and ecosystem have “shown unprecedented resilience” and argues that filing for bankruptcy is necessary for resolving outstanding legal challenges.

“This step protects our ability to continue working with the community on infrastructure, innovative tools and products, and other ecosystem support. We have overcome significant challenges before and, against long odds, the ecosystem survived and even grew in new ways post-depeg; we look forward to the successful resolution of the outstanding legal proceedings.”  

Kwon was arrested in Montenegro last year after attempting to board a flight to Dubai with forged documents. He is wanted by authorities in both the US and South Korea for his alleged role in the multi-billion-dollar downfall of the Terra (LUNA) ecosystem in 2022.

In December, US District Judge Jed S. Rakoff ruled that Terraform Labs and Kwon offered and sold the company’s native token, LUNA, and its decentralized finance (DeFi) token Mirror Protocol (MIR) as unregistered securities.

See also  SEC Goes After Bittrex in New Enforcement Action, Says Algorand and Five Crypto Assets Are Securities

While the judge sided with the U.S. Securities and Exchange Commission (SEC) regarding the unregistered securities charges, he did side with Terraform Labs regarding the regulator’s allegations that the company offered unregistered security-based swaps, tossing that charge.

The SEC and Terraform Labs had both requested summary judgment in an ongoing fraud case. Rakoff denied both sides’ requests for summary judgment on the fraud claims, which will be decided at a jury trial.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

bankruptcy Chapter Company Crypto files Labs protection Terraform
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why Did Bitcoin and Crypto Dump Today?

2025-07-23

Wall Street’s Crypto Moves Just Got Exposed

2025-07-23

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Crypto Just Got Its BIGGEST Regulatory Shock – Are You Ready?

2025-07-22
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Videos

🔍 Macro Roundup: Mixed Outlook Ahead

2024-05-03

Macro #Crypto #RealEstate #FX #TLT #Debt #Jobs #Labor #Recession #Deficits JOIN THE FAMILY: …

Regulation

Financial Services and Markets Act granted Royal Assent by King Charles, making crypto trading a regulated financial activity in the UK

2023-06-29

The Financial Services and Markets Act 2023 received Royal Assent from King Charles on June…

Regulation

Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators: Report

2023-03-06

Crypto exchange Binance sought to hire Gary Gensler as an adviser before he became chairman…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Major Signal Flashed!!!

2025-07-25

I Had No Clue This Was Happening…

2025-07-24

Why Bitcoin’s Going Vertical: $100M Mat, Debt Spiral, + ETF Surge!

2025-07-24
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 118,536.76
ethereum
Ethereum (ETH) $ 3,807.78
xrp
XRP (XRP) $ 3.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 798.78
solana
Solana (SOL) $ 185.57
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.235775
staked-ether
Lido Staked Ether (STETH) $ 3,805.76
tron
TRON (TRX) $ 0.321643
bitcoin
Bitcoin (BTC) $ 118,536.76
ethereum
Ethereum (ETH) $ 3,807.78
xrp
XRP (XRP) $ 3.18
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 798.78
solana
Solana (SOL) $ 185.57
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.235775
staked-ether
Lido Staked Ether (STETH) $ 3,805.76
tron
TRON (TRX) $ 0.321643