Luna token lawyers quit the development company

The series titled «The UST/LUNA Collapse» continues — this time, the top management of Terraform Labs' legal department has left the team.

Chief Corporate Counsel Lawrence Florio, General Counsel Mark Goldich, and Regulatory Counsel Noah Exler have stopped working on the project since May 2022, shortly after the UST collapse last week, which caused its cryptocurrency Terra LUNA to lose $ 40 billion in capitalization. The information about the dismissal of key members of the legal department appeared on the Linkedin of these employees.

Representatives of Terraform Labs want to «hush up» the situation, so they describe what is happening politically correct. «Last week was a difficult one for Terraform Labs, with a small number of team members resigning in recent days,» said a company spokesperson.

«The vast majority of team members are still committed to the project’s mission. Terra is more than UST, with an exceptionally dedicated community and a clear recovery plan. We are now focused on implementing our plan to restore the Terra ecosystem,» said a Terra spokesperson.