Terraform Labs Seeks Chapter 11 Bankruptcy Protection Amidst Legal Challenges

Key Takeaways

Terraform Labs has filed for Chapter 11 bankruptcy protection, citing liabilities and assets between $100 and $500 million.
The SEC postponed Do Kwon’s fraud trial to March 25th, following the company’s bankruptcy filing.
The US and South Korea are pursuing Kwon’s extradition, with potential multi-national legal consequences.

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