Terraform Labs is a blockchain company established in 2018 by Do Kwon and Daniel Shin, headquartered in Singapore. It has been at the forefront of developing Web3 services and products through its blockchain called Terra. The company aimed to overhaul the traditional financial system with blockchain technology, focusing on removing barriers to the widespread adoption of digital currencies. Terraform Labs raised significant funding, over $200 million, from notable investment firms like Lightspeed Venture Partners, Galaxy Digital, and DeFiance Capital. In early 2022, Terraform Labs faced severe challenges as its cryptocurrency values collapsed, wiping out billions in market value and affecting the broader crypto industry. The company has recently filed for Chapter 11 bankruptcy in the United States as a strategic step to continue operations while addressing outstanding legal challenges, including litigation in Singapore and with the U.S. Securities and Exchange Commission (SEC). Despite these challenges, Terraform Labs expressed its intention to expand its web3 business, having recently acquired Pulsar Finance and launched a new cryptocurrency walle