A U.S. bankruptcy court has approved a $1.3 billion settlement between Terraform Labs and Three Arrows Capital (3AC) concerning the 2022 Terra/LUNA collapse. The court's decision classifies 3AC's claim as a 'Crypto Loss Claim,' aligning it with other investors affected by the Terra ecosystem's downfall. This ruling is a significant step in Terraform Labs' Chapter 11 bankruptcy proceedings and could set a precedent for future cryptocurrency bankruptcy cases.
U.S. Court Approves $1.3 Billion Settlement Between Terraform Labs and 3AC
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