https://www.bbc.com/news/technology-68055557
Cryptocurrency firm Terraform Labs files for bankruptcy in US
The cryptocurrency company behind the crashed TerraUSD and Luna tokens has filed for bankruptcy in the US.
Terraform Labs' tokens collapsed in May, losing $40bn of their value and contributing to the so-called "cryptocrash" of 2022.
Co-founder Do Kwon is currently in jail in Montenegro after having been found guilty of forging documents.
Terraform Labs' Luna token came to prominence in December 2021, when its value began to rise from $5 to a high of $116 in April 2022.
Fans of Luna became known as "Lunatics", with Mr Kwon referred to as their "king".
Then suddenly, on 9 May 2022, it collapsed, losing 99% of its value in just 48 hours.