Crypto users react to Terraform Labs legal team purportedly leaving company
Many on social media called for legal action against Do Kwon, while others speculated the potential departure of the legal team could have been over concerns about money. The ongoing saga with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn following a supposed change in employment status for many on the firm’s legal team.According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler, and chief corporate counsel Lawrence Florio have all stopped working for the blockchain firm as of May 2022.....
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The ongoing rigmarole with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn after a purported modification in job status for some members of the company’s legal staff. The internal legal team at Terraform Labs resigned shortly after the implosion of Terra’s algorithmic stablecoin caused a significant blow to the broader crypto markets. Suggested […]
Three members of Terraform Labs’ legal team have left the company, according to their Linkedin profiles that show their departure from the firm this month. The resignation of the company’s in-house litigation, regulatory, general, and corporate counsel members follow the project’s fallout last week as the blockchain’s native crypto assets dropped significantly in value. Linkedin Profiles Show 3 Legal Counsel Members Ended Their Relationship With Terraform Labs in May 2022 The crypto community is once again throwing the spotlight on the Terra blockchain fiasco,....
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Terraform Labs and the collapse of algorithmic stablecoin terrausd (UST). “SEC enforcement attorneys are investigating whether Terraform Labs broke securities and investment product rules.”
SEC Launches Investigation of Terraform Labs and UST
The U.S. SEC is investigating Terraform Labs and its algorithmic stablecoin terrausd (UST), Bloomberg reported Thursday, citing people familiar with the matter.
UST lost its peg to the U.S. dollar in early May. The stablecoin quickly lost....
The South Korean cryptocurrency ecosystem is still experiencing issues because of the Terraform Labs probe. According to reports, the nation’s authorities advanced the probe on Wednesday with their most recent actions. The investigation into the fraud claims against the Terraform Labs management is still ongoing. Terraform Probe Heats Up As part of their ongoing inquiries […]
Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP.
A Class-Action Lawsuit Has Been Filed Against TFL and Affiliated Firms — Plaintiffs Claim Terra-Based Tokens Were Unregistered Securities
According to recently filed documents in the U.S. District Court in Northern....