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.