PODGORICA, MONTENEGRO - JUNE 16: Do Kwon is taken outside of court on June 16, 2023 in Podgorica, Montenegro.
Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100 million to $500 million.
Recently, a federal judge postponed the trial of the U.S. Securities and Exchange Commission (SEC) against the company and its co-founder, Do Kwon, over an alleged $40 billion cryptocurrency fraud.
Kwon and Terraform Labs were held responsible for two cryptocurrencies whose collapse caused turbulence in crypto markets around the world in 2022.
Both cryptocurrencies lost an estimated $40 billion or more when TerraUSD failed to maintain its $1 peg in May 2022.
Persons:
Kwon, Cryptocurrency, Filip Filipovic, Do Kwon, Terraform, cryptocurrencies, TerraUSD
Organizations:
Labs, Sunday ., U.S . Securities, Exchange Commission, SEC, Terraform Labs
Locations:
PODGORICA, MONTENEGRO, Podgorica, Montenegro, United States, Sunday . Singapore, Delaware