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Terraform Will Use Ch. 11 To Craft Appeal Of SEC Crypto Case

By Alex Wittenberg (January 30, 2024, 3:38 PM EST) -- An executive for crypto company Terraform Labs told the Delaware bankruptcy court Tuesday it has sought Chapter 11 protection mainly to delay a potentially existential U.S. Securities and Exchange Commission penalty tied to the implosion of its algorithmic stablecoin, the collapse of which in 2022 provoked a widespread crash in cryptocurrency markets....

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