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If the battle against the SEC doesn’t go well for Terraform Labs, it could spell further trouble for these cryptos.
Source: https://investorplace.com/2023/02/terra-alert-sec-charges-terraform-labs-do-kwon-with-fraud/
Lawyers for Do Kwon, founder of collapsed crypto issuer Terraform Labs, have requested a U.S. court to dismiss charges brought against him by the Securities and Exchange…
Mr Kwon's Singapore-based company Terraform, along with its cryptocurrencies, collapsed spectacularly in May 2022.
Source: https://www.bbc.co.uk/news/technology-65058533?at_medium=RSS&at_campaign=KARANGA
UST was an algorithmic stablecoin created by Terraform Labs which tied to Luna tokens but lost its peg and crashed, leading to the collapse of both Luna and UST.”
While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022.