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Financial Expert: TerraUSD Founder in Legal Trouble, Terraform Labs Bankrupt & Petro Cryptocurrency Discontinued
According to a report from www.heise.de, While TerraUSD founder Do Kwon awaits extradition to the US, crypto company Terraform Labs is filing for bankruptcy in the US state of Delaware and seeking protection from creditors. Likewise, Venezuela's state cryptocurrency Petro was quietly abolished. The news agency also reported the successful opening of the container containing the Osiris-Rex asteroid sample landed by the US space agency NASA. Terraform Labs was responsible for TerraUSD, the fourth largest “stablecoin” in the world. The 2022 collapse of the TerraUSD coin and its Luna token wiped out at least $40 billion and led to a spate of bankruptcies in the cryptocurrency market...
Financial Expert: TerraUSD Founder in Legal Trouble, Terraform Labs Bankrupt & Petro Cryptocurrency Discontinued
According to a report by www.heise.de,
While TerraUSD founder Do Kwon awaits extradition to the USA, the crypto company Terraform Labs files for bankruptcy in the US state of Delaware and is applying for protection from creditors. Likewise, Venezuela's state cryptocurrency Petro was quietly abolished. The news agency also reported the successful opening of the container containing the Osiris-Rex asteroid sample landed by the US space agency NASA.
Terraform Labs was responsible for TerraUSD, the fourth largest “stablecoin” in the world. The 2022 collapse of TerraUSD coin and its Luna token wiped out at least $40 billion and contributed to a spate of bankruptcies in the cryptocurrency market. Co-founder Do Kwon is currently waiting in Montenegro for possible extradition to South Korea or the USA. The US Securities and Exchange Commission accuses him of fraud, deceiving investors and selling unregistered securities. Terraform Labs has now filed for bankruptcy in the US state of Delaware and applied for protection from creditors.
The shutdown of Petro, Venezuela's state-owned cryptocurrency, came quietly after an alleged corruption scandal and doubts about the integrity of the cryptocurrency project. These events indicate significant instability and uncertainty in the cryptocurrency world.
The successful opening of the container containing the sample of Osiris-Rex collected from the asteroid Bennu demonstrates progress in space research and technology development.
These events are expected to have a significant impact on the cryptocurrency market, investor confidence in cryptocurrencies, and public perception of space innovations and developments.
It is important that investors and interested parties inform themselves about current developments in the cryptocurrency industry and evaluate the impact on the financial markets in order to make informed decisions.
Read the source article at www.heise.de