{"id":448527,"date":"2022-05-17T22:48:38","date_gmt":"2022-05-17T19:48:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-users-react-to-terraform-labs-legal-team-purportedly-leaving-company\/"},"modified":"2022-05-17T22:48:38","modified_gmt":"2022-05-17T19:48:38","slug":"crypto-users-react-to-terraform-labs-legal-team-purportedly-leaving-company","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-users-react-to-terraform-labs-legal-team-purportedly-leaving-company\/","title":{"rendered":"# Crypto users react to Terraform Labs legal team purportedly leaving company"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b72e5f00d6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b72e5f00d6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-users-react-to-terraform-labs-legal-team-purportedly-leaving-company\/#%E2%80%9D_Crypto_users_react_to_Terraform_Labs_legal_team_purportedly_leaving_company_%E2%80%9C\" >&#8221; Crypto users react to Terraform Labs legal team purportedly leaving company &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_users_react_to_Terraform_Labs_legal_team_purportedly_leaving_company_%E2%80%9C\"><\/span>&#8221; Crypto users react to Terraform Labs legal team purportedly leaving company &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZmU0MGE4MzItYzc3Ny00MTk1LWIzNjQtNWE4NTU2ODc5NGZhLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>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\u2019s legal team.<\/p>\n<p>According to their LinkedIn profiles, Terraform Labs <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler, and chief corporate counsel Lawrence Florio have all <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/noahaxler\/\">stopped<\/a> working for the blockchain firm as of May 2022. Goldich <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/marcgoldich\/\">started<\/a> at Terraform Labs in August 2021, while Axler and Florio <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/florio\/\">joined<\/a> in January 2022. <\/p>\n<p>The change in employment status for three members of Terraform Labs\u2019 legal team followed major volatility in the crypto market after the price of LUNA collapsed to $0.00 within two weeks. Stablecoins including Tether (USDT) depegged from the U.S. dollar, while the price of TerraUSD (UST) has dropped more than 88% since May 8.<\/p>\n<p>Do Kwon, the co-founder of Terraform Labs, proposed a rescue plan on May 11 in which the company\u2019s team would mint more UST than usual. Validators for the Terra blockchain halted network activity two separate times amid extreme volatility, while Kwon later suggested users vote to fork the Terra Luna blockchain in an effort to save the ecosystem, still seemingly on a downward spiral.<\/p>\n<p>Even before some of Terraform Labs\u2019 lawyers seemingly cut ties to the firm, many crypto users, likely facing significant losses, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FezMakk\/status\/1526623446666514438\">called<\/a> for legal action against Kwon. Others <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoShmebulok\/status\/1526619293978222592\">speculated<\/a> the potential departure of Goldich, Axler, and Florio could have been the result of a moral dilemma defending Terraform Labs, or concerns about from where their next paycheck would come. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The legal team of Terraform labs might have seen something they can&#8217;t handle so they resigned. Terraform lawyers Marc Goldich, Lawrence Florio,and Noah Axler has already updated their resignation on LinkedIn. Do Kwon made people lose a lot of money and not everyone will let it go<\/p>\n<p>\u2014 Tajo Crypto (@TajoCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TajoCrypto\/status\/1526624456449445888?ref_src=twsrc%5Etfw\">May 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<strong><em>Related: <\/em><\/strong><strong><em>What h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened? Terra debacle exposes flaws plaguing the crypto industry<\/em><\/strong><\/p>\n<p>Should their departure be due to concerns over the LUNA and UST crash, the legal team would not be the first players in the crypto space to abandon a seemingly sinking ship. In December 2021, SushiSwap chief technical officer Joseph Delong resigned, citing \u201cchaos\u201d in the running of the decentralized exchange. <\/p>\n<p><em>Cointelegraph reached out to Marc Goldich, Noah Axler, and Lawrence Florio, but did not receive a response at the time of publication.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-users-react-to-terraform-labs-legal-team-purportedly-leaving-company\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto users react to Terraform Labs legal team purportedly leaving company &#8220; 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\u2019s legal team. According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation&#8230;<\/p>\n","protected":false},"author":1,"featured_media":448528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZmU0MGE4MzItYzc3Ny00MTk1LWIzNjQtNWE4NTU2ODc5NGZhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,122378,117,55229],"class_list":["post-448527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-terra","tag-business","tag-law"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=448527"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/448527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/448528"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=448527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=448527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=448527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}