https://techcrunch.com/2024/01/21/terraform-labs-files-for-chapter-11-bankruptcy/

Singapore-based Terraform Labs (TFL), the company behind digital assets TerraUSD (UST) and Luna, filed for Chapter 11 bankruptcy in Delaware following the collapse of its cryptocurrencies in 2022. 

Terraform Labs, which confirmed its Chapter 11 bankruptcy protection filing, said the filing is “a strategic step that will enable it to continue its operations and support litigation pending in Singapore and U.S. litigation involving the Securities and Exchange Commission.”  The outfit also said it would “meet all financial obligations to employees and vendors during the Chapter 11 case” without requiring additional financing.