Terraform Labs' new CEO announces the acquisition of Pulsar, ushering in the era of Do Kwon.

Terraform Labs announced the acquisition of Pulsar Finance. Chris Amani, who has taken over as CEO from Do Kwon, stated that Terraform has "never stopped building," and the acquisition of Pulsar will quickly bring cross-chain applications to the market, with the post-Kwon strategy now becoming the focus of attention.

Terraform Labs Lawsuit Unsettled

The blockchain developer Terraform Labs, once renowned for issuing the stablecoin TerraUSD (UST), has been quiet since the UST detachment collapse and the arrest of founder Do Kwon. Now, Terraform Labs has announced the acquisition of cross-chain investment portfolio management and analytics startup Pulsar Finance.

The algorithmic stablecoin UST issued by Terraform collapsed in May last year, causing a stir in the crypto community and resulting in losses for many investors and companies. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Terraform in February this year, accusing them of selling unregistered cryptographic asset securities and deceiving investors. Founder Do Kwon was arrested in March in the small European country of Montenegro in the Balkan Peninsula, bringing an end to his ten-month-long fugitive status.

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Development of Terraform after Do Kwon's Departure

Former COO of Terraform, Chris Amani, took over as CEO in July. In a statement, he mentioned that the acquisition of Pulsar has had an immediate impact on the company, enabling them to quickly bring cross-chain applications to the market.

Pulsar's analytics platform was founded in 2021, currently supporting 96 networks and over 700 protocols. The startup provides users with a simple way to track the performance of a range of tokens, DeFi positions, and NFTs.

Subsequently, Pulsar's flagship product Portfolio will be integrated into Terraform's cross-chain wallet Station, allowing users to handle voting, token management, and cross-chain app access all in one place. Following that, Pulsar's data products will also be merged with Terraform's infrastructure tools, making it easier for users to track and manage their cross-chain assets.

Chris Amani stated:

Terraform Labs has never stopped building, but we needed some time to adjust our strategy after Do Kwon's departure. The core principle behind Terraform Labs has always been utility, and now we are focused on applying this principle to the development of the blockchain ecosystem.