Terraform Labs' plan to wind down has reportedly been approved, some two years after the Terra ecosystem collapsed, allegedly wiping out $40 billion in investor funds.

How did the U.S. bankruptcy court's approval of Terraform Labs' wind-down plan affect Terra Luna Classic and LUNA prices?

Terraform Labs, the company behind the cryptocurrencies Terra and Luna, has received bankruptcy approval in the United States.

Terraform Labs, the creator of the Terra blockchain protocol, has secured court approval to proceed with its bankruptcy wind-down.

Terraform Labs has received the approval to sunset its operations in a bid to transition its protocol to community-led management.