The Terra debacle could also have legal consequences for company leader Do Kwon. Kwon can no longer expect any support from Terraform’s legal team, which is resigning.
Three leaders on the legal team at Terraform Labs, the blockchain developer behind Terra (LUNA), are stepping down from their posts. A look at their LinkedIn profiles shows this. The background is likely to be the ongoing chaos surrounding the Terra ecosystem. In recent weeks, both the LUNA token and the stablecoin UST, which is actually tied to the U.S. dollar, took a massive tumble – billions of U.S. dollars were flushed out of the market.
Now, the first voices from the community are being raised, which also demand legal action against Do Kwon as the responsible head behind the Terra ecosystem. The Bitcoin News also reported that the community is resolutely against plans to keep Terra alive via hardfork.
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