Terraform Will Use Ch. 11 To Craft Appeal Of SEC Crypto Case

[Gunnar Larson]

Terraform Will Use Ch. 11 To Craft Appeal Of SEC Crypto Case
<https://www.law360.com/banking/articles/1791691?nl_pk=feb6bbba-7878-4d39-be6e-46810c922ad7&utm_source=newsletter&utm_medium=email&utm_campaign=banking&utm_content=2024-01-31&read_main=1&nlsidx=0&nlaidx=10>

By Alex Wittenberg

An executive for crypto company Terraform Labs told the Delaware bankruptcy
court Tuesday it has sought Chapter 11 protection mainly to delay a
potentially existential U.S. Securities and Exchange Commission penalty
tied to the implosion of its algorithmic stablecoin, the collapse of which
in 2022 provoked a widespread crash in cryptocurrency markets.

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