Terraform Labs, the firm behind the collapsed Luna token and the TerraUSD stablecoin, will open a portal on March 31 to allow investors to file claims for crypto losses tied to the company’s downfall and subsequent bankruptcy.

The online system, operated by claims administrator Kroll, is part of the company’s court-supervised wind-down process. Investors have until April 30 at 11:59 p.m. ET to submit claims through claims.terra.money. Late submissions will not be considered, meaning those who miss the deadline forfeit their right to any recovery, according to a Medium post.

Eligible claims must be tied to specific cryptocurrencies listed in the case documents and held during the period surrounding the Terra ecosystem’s collapse. Notably, assets with less than $100 in on-chain liquidity and certain others—like Terra 2.0’s Luna—will not qualify.

Claimants must also submit proof of ownership. The preferred method is read-only API keys from exchanges, which the administrator considers more reliable than screenshots or manually uploaded documents. The post adds that those using manual evidence may face extended review periods or risk their claims being denied altogether.

Once filed, claims will be reviewed and verified. Initial decisions will be shared within 90 days after the deadline and approved claims will be eligible for pro rata distributions once processing concludes.

The Terra ecosystem collapsed in 2022, leading to the largest destruction of wealth in just three days in the cryptocurrency space’s history. LUNA’s market capitalization plunged from over $41 billion to $6 million in that period.
Read more: Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

Bitcoin mining company MARA Holdings (MARA) is launching a fresh $2 billion stock offering to buy more bitcoin, continuing its plan of buying BTC in the open market through capital raise while sticking to its «Hodl» strategy.

According to a Form 8-K and a new prospectus filed with the U.S. Securities and Exchange Commission (SEC), MARA entered into an at-the-market (ATM) equity program with a group of investment banks including Barclays, BMO Capital Markets, BTIG, Cantor Fitzgerald, and others. The proceeds of the offering, which will see brokers selling shares of the miner from time to time, will be used mainly for the acquisition of bitcoin in the open market.

«We currently intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and for working capital,» MARA said in its prospectus.

This new fresh stock sales plan follows a previous ATM offering that targeted up to $1.5 billion for the miner.

MARA has adopted Michael Saylor’s strategy of raising funds through equity and convertible bond offerings and buying bitcoin in the open market. The miner now holds 46,376 BTC in its treasury, making it the second-largest bitcoin stash among publicly traded companies, behind Strategy’s 506,137 BTC.

The plan to buy bitcoin in the open market was adopted by the miner last year, even though a miner can theoretically mine bitcoin at a discount to the spot price. The industry became challenging after last year’s halving cut mining rewards by half, squeezing profit margins on the back of rising costs. This made buying bitcoin in the open market, alongside mining, a relatively better strategy for the miners.
Read more: Bitcoin Mining Is So Rough a Miner Adopted Michael Saylor’s Successful BTC Strategy

FTX, the collapsed cryptocurrency exchange once helmed by Sam Bankman-Fried, plans to begin paying its main creditors at the end of May, Bloomberg reported based on court proceedings in Delaware this week.

The company has gathered $11.4 billion in cash to distribute to thousands of parties affected by its 2022 bankruptcy, with the first payments to major creditors set for May 30.

These include institutional investors and firms that held crypto on FTX’s platform. Smaller creditors with claims below the $50,000 mark have already begun receiving distributions.

FTX’s collapse left a financial crater and a trail of frustrated creditors—many of whom expected to be repaid in crypto, not dollars. Since the bankruptcy, the price of bitcoin has more than quadrupled, intensifying frustrations among those waiting for their assets back.

The task of unwinding FTX’s balance sheet has been slowed by a large number of claims, many of them reportedly questionable. Andrew Dietderich, a bankruptcy attorney for the firm, told the court that FTX has received “27 quintillion” claims, Blloomberg reported, many of which are duplicates or outright fraudulent.

Interest payments are compounding the urgency. While FTX earns only a modest return on its cash, legitimate creditors are entitled to 9% interest annually on unpaid claims. The longer it takes to pay, the more the company could owe.

Read more: Nearly All FTX Creditors Will Get 118% of Their Funds Back in Cash, Estate Says in New Plan