Terraform Labs, the company behind the failed TerraUSD and Luna tokens, is preparing to wind down after a U.S. court greenlit its bankruptcy plan. This decision closes a chapter on its dramatic $40 billion collapse.
During a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge Brendan Shannon described the plan as a 'welcome alternative' to minimize future issues.
The approval is a significant milestone, providing a legal framework for the company to settle its debts and obligations.
