Terraform Labs will cease operations and transfer network management to the community
Terraform Labs (TFL) CEO Chris Amani has asked the community to take control of the Terra blockchain as the organization ceases to exist.
“TFL was always going to break up at some point and that moment is now. We will completely shut down our activities. Special thanks to the crazy people who supported us, as well as to the company team. I’m incredibly proud that we managed to preserve the company and the ecosystem [...] despite everything,”
- says a publication on the social network X.
Amani wrote the post after the firm entered into an agreement with the US Securities and Exchange Commission, which involves a payment of $4.47 billion. The document must be approved by a judge.
According to TFL's CEO, the company plans to sell its projects in the Terra ecosystem, including Pulsar Finance, Station Wallet and Enterprise DAO.
$LUNC $LUNA $USTC
#TerraFormLabs #LUNC #LUNA #USTC #SEC
Terraform Labs (TFL) CEO Chris Amani has asked the community to take control of the Terra blockchain as the organization ceases to exist.
“TFL was always going to break up at some point and that moment is now. We will completely shut down our activities. Special thanks to the crazy people who supported us, as well as to the company team. I’m incredibly proud that we managed to preserve the company and the ecosystem [...] despite everything,”
- says a publication on the social network X.
Amani wrote the post after the firm entered into an agreement with the US Securities and Exchange Commission, which involves a payment of $4.47 billion. The document must be approved by a judge.
According to TFL's CEO, the company plans to sell its projects in the Terra ecosystem, including Pulsar Finance, Station Wallet and Enterprise DAO.
$LUNC $LUNA $USTC
#TerraFormLabs #LUNC #LUNA #USTC #SEC
