Terraform Labs To Open Loss Claims Portal On March 31

The company behind LUNA LUNA$0.0005725 and algorithmic stablecoin TerraUSD (UST), Terraform Labs, is set to launch its crypto loss claims portal on March 31. This portal is designed to reimburse individuals who lost at least $100 due to the collapse of the Terra ecosystem in 2022.uyg

This move is a follow-up to the Delaware court’s approval for Terraform Labs to wind down operations. The judge looking into the case, approved Terraform Labs' bankruptcy plan, explaining it as a 'welcome alternative' to continued legal battles over investor losses.

In order to be eligible for the reimbursement, claimants need to submit a claim and supporting documentation through the crypto loss claims portal by 11:59 pm ET on April 30. Claims under $100 will not be accepted.

South Carolina dismisses its staking lawsuit against Coinbase, joining Vermont

According to Cointelegraph, South Carolina has dismissed its lawsuit against crypto exchange, Coinbase, over its staking services, which has alleged that the exchange of offering unregistered securities..

On March 27, in a joint condition between the crypto exchange and the South Carolina Attorney General’s securities division, the lawsuit was officially dismissed.

Paul Grewal, the irm’s chief legal officer, said in a post on X on March 27, that “South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase.”

“This is not just a victory for us, but for American consumers and we hope it's a sign of things to come in the few states left that restrict staking.”

Avalanche, Gelato launch enterprise sovereign chains for institutions

Gelato, blockchain developer platform is set to launch a new blockchain-as-a-service solution on Avalanche in order to meet the growing demand for sovereign blockchain infrastructure during a crucial “tipping point” for institutional adoption.

This new upgrade aims to let developers deploy fully sovereign chains faster and cheaper with full interoperability via Avalanche InterChain Messaging (ICM).

According to an announcement shared exclusively with Cointelegraph on March 28, Gelato has emphasized that this service is ideal for advanced applications such as financial technology (fintech) requiring identity verification (KYC) and specialized gaming economies.

The founder of Gelato, Luis Schliesske said, that previously launching a blockchain required extensive technical knowledge and significant engineering resources. Gelato’s new product reduces the complexity involved.

He told Cointelegraph:

“Gelato’s RaaS on Avalanche streamlines everything from deployment and upgrades to real-time monitoring and scaling. It’s a plug-and-play solution that slashes time-to-market and operational burden bringing AWS-level infrastructure to the rollup era.”