The Terraform Labs team of lawyers and compliance specialists quit almost at full strength after the collapse of UST. The firm’s legal affairs are currently handled by an outside team.
About it informs publication The Block, citing an internal source in the company. Apparently, the lawyers decided that the burden on the department after the fall of the Terra ecosystem was not worth it.
Terraform Labs General Counsel Mark Goldich’s LinkedIn profile states that he left the company in early May. Similar data is found in the profiles of General Corporate Counsel Lawrence Florio and General Litigation and Regulatory Counsel Noah Axler. At the same time, all of them did not work at Terraform Labs even for a year.
“Last week was a tough one for Terraform Labs and a small part of our team decided to leave. The vast majority of employees remain committed to fulfilling the mission of the project. Terra is more than UST. We have an incredibly passionate community and a clear recovery plan. Now we are focused on the implementation of this plan,” said a company representative.
Earlier, Terraform Labs CEO Do Kwon proposed to fork Terra to save the project. However, according to Binance CEO Changpeng Zhao, the plan will not work.
Source: Bits
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