Global #Terraform Labs

The Avalanche Foundation has successfully completed the repurchase of 1.97 million AVAX tokens from the now-defunct Luna Foundation Guard (LFG), marking a significant step in stabilizing the Avalanche ecosystem.

Terraform Labs has officially shut down following the acceptance of its bankruptcy plan, marking the end of a tumultuous chapter for the company and its investors.

Terraform Labs, the company behind the troubled cryptocurrency ecosystem Terra, has reportedly reached a $4.5 billion settlement with the U.S. Securities and Exchange Commission (SEC) according to industry sources.

Bankrupt Terraform Labs and its disgraced founder, Do Kwon, have reached a landmark $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC) following a jury verdict finding them liable for defrauding cryptocurrency investors in the infamous collapse of TerraUSD (UST) and LUNA.

As per a recent article by Bloomberg, Do Kwon, the founder of Terraform Labs, and the Securities and Exchange Commission (SEC) contested the substantial $5.3 billion penalty that was suggested in the complaint.

Attorneys for Terraform Labs claimed that since the Luna Foundation Guard (LFG) is currently a non-entity in this matter, the SEC should properly pursue the penalty from them.