{"id":27146,"date":"2022-05-18T00:44:24","date_gmt":"2022-05-18T04:44:24","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=27146"},"modified":"2022-05-18T00:44:35","modified_gmt":"2022-05-18T04:44:35","slug":"terraform-labs-legal-team-leaves-company-citing-concerns-for-crypto-users","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terraform-labs-legal-team-leaves-company-citing-concerns-for-crypto-users\/","title":{"rendered":"Terraform Labs&#8217; legal team leaves company, citing concerns for crypto users"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\" id=\"h-following-the-unfortunate-event-with-terraform-labs-the-blockchain-developer-behind-terra-luna-three-of-its-legal-team-members-have-left-the-company-the-move-has-sparked-up-various-conversations-among-crypto-users\">Following the unfortunate event with <a href=\"https:\/\/coinscreed.com\/staging\/terraform-labs-proposes-emergency-measures-support-luna-and-ust.html\" target=\"_blank\" rel=\"noreferrer noopener\">Terraform Labs<\/a>, the blockchain developer behind Terra (LUNA), three of its legal team members have left the company. The move has sparked up various conversations among crypto users.<\/h5>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-1024x538.png\" alt=\"Terraform Labs' legal team leaves company, citing concerns for crypto users\" class=\"wp-image-27148\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-1024x538.png 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-300x158.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-768x403.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-150x79.png 150w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-750x394.png 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148-1140x599.png 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Terraform Labs' legal team leaves company, citing concerns for crypto users<\/figcaption><\/figure><\/div>\n\n\n\n<p>According to their LinkedIn profiles, terraform Lab's general lawyer Marc Goldich, Chief litigation and regulatory counsel officer Noah Axler, and chief corporate counsel Lawrence Florio all left the blockchain business in May 2022. Axler and Florio joined Terraform Labs in January 2022, while Goldich started in August 2021.<\/p>\n\n\n\n<p>The change in employment status for three members of <a href=\"https:\/\/www.google.com\/search?q=Terraform+Labs%27+legal+team+leaves+company%2C+citing+concerns+for+crypto+users&rlz=1C1SQJL_enNG889NG889&oq=Terraform+Labs%27+legal+team+leaves+company%2C+citing+concerns+for+crypto+users&aqs=chrome..69i57.610j0j9&sourceid=chrome&ie=UTF-8\" target=\"_blank\" rel=\"noreferrer noopener\">Terraform Labs' legal staff <span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>came amid severe market volatility, with the price of LUNA plummeting to $0.00 in less than two weeks.<\/p>\n\n\n\n<p>Tether (USDT) and TerraUSD (UST) depegged from the US dollar, while the price of Tether (USDT) has declined by more than 88 percent since May 8.<\/p>\n\n\n\n<p>On Wednesday, Terra Luna's co-founder Do Kwon offered a rescue plan in which the company's crew will mint more UST than usual.<\/p>\n\n\n\n<p>Validators for the Terra blockchain paused network activity twice due to excessive volatility, and Kwon later advised that users vote to fork the <a href=\"https:\/\/coinscreed.com\/staging\/south-korean-authorities-begin-investigation-of-terra-incident.html\" target=\"_blank\" rel=\"noreferrer noopener\">Terra Luna blockchain<\/a> in an attempt to salvage the ecosystem, which was still on the verge of collapse.<\/p>\n\n\n\n<p>Many crypto users, possibly experiencing significant losses, advocated for legal action against Kwon even before some Terraform Labs' lawyers reportedly terminated connections with the firm.<\/p>\n\n\n\n<p>Others claimed that Goldich, Axler, and Florio's possible resignation was due to a moral issue while defending Terraform Labs, or concerns about where their next salary would come from.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-twitter\"><blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">BREAKING: Terraform\u2019s legal team has reportedly resigned following the <a href=\"https:\/\/twitter.com\/search?q=%24UST&src=ctag&ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$UST<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a> crash.<\/p>&mdash; Watcher.Guru (@WatcherGuru) <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1526621343181070342?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 17, 2022<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><use href=\"#wpil-svg-outbound-7-icon-path\"><\/use><\/svg><\/span><\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/div><\/figure>\n\n\n\n<p>The legal staff would not be the first in the crypto world to flee a sinking ship if their departure was related to concerns about the LUNA and UST crashes.<\/p>\n\n\n\n<p><a href=\"https:\/\/coinscreed.com\/staging\/chief-technology-officer-of-sushiswap-resigns.html\" target=\"_blank\" rel=\"noreferrer noopener\">SushiSwap's chief technology officer, Joseph Delong<\/a>, resigned in December 2021, claiming &#8220;chaos&#8221; in the decentralized exchange's operations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following the unfortunate event with Terraform Labs, the blockchain developer behind Terra (LUNA), three of its legal team members have left the company. The move has sparked up various conversations among crypto users. According to their LinkedIn profiles, terraform Lab&#8217;s general lawyer Marc Goldich, Chief litigation and regulatory counsel officer Noah Axler, and chief corporate [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":27148,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-27146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/05\/79c1f347-7e48-49e9-918f-8578d90ce467-1650560385148.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=27146"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/27146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/27148"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=27146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=27146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=27146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}