US SEC Launches Information Page for Victims of Terraform Labs

IconCryptoNewsTerminal Staff30 Jul, 2024

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US SEC Launches Information Page for Victims of Terraform Labs

The U.S. Securities and Exchange Commission (SEC) has launched an information page for victims of Terraform Labs, the company behind the collapsed Terra (LUNA) and TerraUSD (UST) cryptocurrencies. According to The Block, the page includes the Chapter 11 bankruptcy timeline, hearing information, and more. Victims can also submit their contact information to receive updates on the case. The SEC and Terraform Labs previously agreed to a $44.7 billion settlement, which was approved by a U.S. court. The settlement includes a $30 million civil penalty and a requirement for Terraform Labs to register with the SEC as a broker-dealer. The SEC's information page is a valuable resource for victims of Terraform Labs. It provides them with information about their rights and options and helps them stay informed about the bankruptcy process.

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