Why Did Terraform Labs File for Bankruptcy 20 Months After the Collapse of Terra LUNA?
Terraform Labs, led by CEO Chris Amani, files for Chapter-11 Bankruptcy in Delaware
The filing is authorized by the Board of Directors
Assets are reported at $100 million, while liabilities amount to $500 million
Founder Do Kwon is currently in jail in Montenegro, facing charges related to false documents
Despite these challenges, the stablecoin USTC continues to hold the 9th position in market cap among stablecoins.