NEW YORK (AP) — Terraform Labs has filed for Chapter 11 bankruptcy protection, less than two years after a collapse of the company’s cryptocurrency devastated investors around the world.
The Singapore crypto firm filed for protection in U.S. bankruptcy court in Delaware on Sunday, according to court documents. Terraform listed both its estimated assets and liabilities in the $100 million to $500 million range.
Terraform said that the bankruptcy filing will allow the company to “execute on its business plan while navigating ongoing legal proceedings,” which includes litigation in Singapore as well as the U.S.
Read more https://finance.yahoo.com/news/crypto-firm-terraform-labs-files-153010469.html?
Share this:
Discover more from #News247WorldPress
Subscribe to get the latest posts sent to your email.