Bankruptcy court signs off on $1.3B settlement over Terra collapse

A bankruptcy court in the U.S. has approved a settlement between Terraform Labs and the bankrupt hedge fund Three Arrows Capital (3AC) regarding a $1.3 billion claim tied to the 2022 collapse of the Terra/LUNA cryptocurrency. Three Arrows Capital (3AC), a cryptocurrency hedge fund based in Singapore and founded by Su Zhu and Kyle Davies, filed for court-ordered liquidation in June 2022 after suffering billions in losses — much of it linked to the Terra/LUNA crash. The ruling, issued by Judge Brendan L. S ...