Crypto-failure Terraform Labs to cough up $4.5B, liquidate self
Terraform Labs, the outfit behind the $40 billion crash of the TerraUSD stablecoin and its sibling Luna (LUNA) tokens, will pay $4.5 billion to creditors and authorities, then wind itself up.
The biz rose to prominence outside cryptocurrency circles in 2022 when the value of TerraUSD dropped from $1 to just nine cents – a disaster given the digital currency was promoted as a "stablecoin" that would maintain its value, in this case by matching the US dollar.
Terra falsely claimed to have achieved...
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