Terraform Labs is ceasing operations after a $4.47 billion settlement with the SEC, transferring control of the Terra blockchain to the community. Chris Amani, CEO of Terraform Labs, has announced that the firm will cease operations following a $4.47 billion settlement with the United States Securities and Exchange Commission. The company plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain. Related: Terraform to pay $4.47B to resolve SEC civil lawsuit Read more Source: https://cointelegraph.com/news/terraform-labs-shuts-down-community-leads-terra