Terraform Labs: The application for bankruptcy is to continue operations and support the Terra community and ecosystem

ChainCatcher news, Terraform Labs stated on social media that the Chapter 11 voluntary bankruptcy filing is a strategic step that allows it to continue operating and supporting the Terra community and ecosystem.

It is reported that TFL plans to meet all financial obligations to employees and vendors during the Chapter 11 proceedings without the need for additional financing. It still plans to continue expanding its Web3 products, complete the acquisition of Pulsar Finance, launch the cross-chain wallet Station v3, and upgrade the Enterprise Protocol cross-chain staking.