Terraform Labs is a company that develops blockchain known as Terra and Luna for Web3 services and products. It was founded in 2018 and has its headquarters in Singapore. Terraform Labs recently filed for Chapter 11 bankruptcy in Delaware, following the collapse of cryptocurrencies in 2022.
The report further mentions that the filing is a strategic step that will enable it to continue its operations and support litigations pending in Singapore and the USA. The company also plans to expand its web3 business after recently acquiring Pulsar Finance, a cross-chain portfolio manager and data provider.
