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The company behind the failed TerraUSD stablecoin has filed for bankruptcy.
Terraform Labs filed for Chapter 11 bankruptcy on Sunday, listing assets and liabilities between $100 million and $500 million.
The company’s co-founder, Do Kwon, is facing extradition to the US following the fall of TerraUSD and its sister token Luna, which vaporized billions of dollars in 2022.
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