Terraform Labs to Sell Businesses to Pay $4.5B Settlement

IconCryptoNewsTerminal Staff10 Jul, 2024

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Terraform Labs to Sell Businesses to Pay $4.5B Settlement

Terraform Labs, the company behind the collapsed Terra ecosystem, is exploring the sale of four of its business units to meet a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC). The sale includes Pulsar Finance (portfolio tracking platform), Station (crypto wallet platform), Enterprise (no-code DAO management platform), and Warp (smart contract automation protocol). Terraform Labs and its CEO Do Kwon agreed to settle with the SEC for $4.47 billion in penalties, which was approved by a U.S. court.