Terraform Labs receives bankruptcy judge's approval to begin liquidation

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According to Foresight News , Reuters reported that U.S. Bankruptcy Judge Brendan Shannon has approved Terraform Labs' bankruptcy plan to end its business in bankruptcy. Terraform said it will pay stakeholders approximately $184.5 million to $442.2 million. Previously, Terraform Labs agreed to settle a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The lawsuit accused it of defrauding investors who lost approximately $40 billion when TerraUSD and Luna tokens collapsed in 2022.

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