2024-07-12
On June 12, 2024, Terraform Labs CEO announced that Terraform Labs will cease operations and hand over control of the Terra blockchain to the community after Terraform Labs and Do Kwon have agreed to pay $4.47 billion as a settlement with the SEC
Terraform Labs announced on July 9, 2024, that it is exploring
options to sell the following businesses:
1. Pulsar Finance
A portfolio tracking platform acquired
by Terraform Labs in November 2023.
It is a cross-chain portfolio manager
and data infrastructure provider acquired by Terraform Labs. Pulsar Finance
helps users track and manage their cryptocurrency portfolios across various
blockchains.
2. Station
A crypto wallet platform that Terraform continues to develop actively.
3. Enterprise
A no-code decentralized autonomous organization (DAO) management platform launched in November 20221.
4. Warp
A smart contract automation protocol
that is still under active development by Terraform Labs.
The collapse of its the algorithmic
stablecoin TerraUSD (UST) in May 2022 led to significant market losses.
These sales are part of a larger $4.47 billion deal with the United States Securities and Exchange Commission (SEC).
