NewsletterTerraform Labs Expands Portfolio with Pulsar Finance Acquisition
Terraform Labs, renowned for developing the Terra blockchain, has unveiled its latest strategic move of acquiring Pulsar Finance, a startup specializing in cross-chain portfolio management and analytics. This significant development arrives amidst Terraform’s ongoing legal confrontations, notably following the collapse of its algorithmic stablecoin TerraUSD last May.
Terraform’s Legal Challenges
Despite being embroiled in legal disputes, including a notable case with the U.S. Securities and Exchange Commission (SEC), Terraform continues its corporate evolution. The SEC’s lawsuit, filed in February, accuses Terraform of selling unregistered crypto asset securities and engaging in investor fraud. Terraform and the SEC have sought summary judgments in recent weeks, potentially leading to a decision without a full trial.
Chris Amani, formerly Terraform’s COO and now its CEO following Do Kwon’s departure, has expressed optimism about the acquisition. Amani emphasized that Terraform has continued to build and evolve, now honing in on a post-Kwon strategy with a clear focus on utility and blockchain ecosystem development.
Pulsar’s Integration and Potential
Established in 2021, Pulsar has rapidly grown its analytics platform to support 96 networks and over 700 protocols. Terraform plans to integrate Pulsar’s flagship Portfolio product into its Station, a cross-chain wallet. Additionally, Pulsar’s Data product will merge with Terraform’s existing infrastructure tools, enhancing the company’s technological capabilities.
Amani highlighted that while Terraform needed time to recalibrate its strategy post-Kwon, the company’s core principle remains centered on utility. With this acquisition, Terraform aims to leverage Pulsar’s technology and team to accelerate cross-chain application development and market introduction.
This acquisition marks a pivotal moment for Terraform Labs as it navigates its current legal complexities while laying the groundwork for its future in the blockchain ecosystem. With Pulsar Finance now under its wing, Terraform demonstrates a robust commitment to enhancing its technological prowess and expanding its market influence.
Read Also: Terraform Labs and Do Kwon Seek Summary Judgement in SEC Battle
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