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LUNC News: Terraform Labs (TFL) on Wednesday announced that they are appointing a director and interim Chief Executive Officer (CEO). This move comes after Do Kwon, the crypto leader allegedly behind the $40 billion collapse of TerraUSD and Luna, decided to step down as CEO on 31 March 2023.
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Will TFL Get New Direction?
According to the announcement, former Chief Operating Officer of TFL, Chris Amani will be the interim CEO of the blockchain firm. It is expected that Amani will accelerate Terraform Labs’ operations amid the ongoing crisis in the company.
Chris Amani, the interim CEO of TFL holds broad experience in managing global tech companies. He had served as CEO at Humanity and held director positions in companies like MongoDB, Electronic Arts, and Zynga. Read More LUNC News Here…
Revival Of Terraform Labs?
Amani stated that recent times have been a challenging year for Terra as its stablecoin UST deppeged. TFL and Terra community has shown signs of revival. However, the community has opted and voted to rebuild Terra, and this time without algorithmic stablecoins.
He mentioned that the process won’t be easy but the team has a clear vision of taking Terra into the broader vision of the Web3 ecosystem. The interim CEO hinted that there would be new announcements linked to this soon.
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As per reports, TFL has been alleged of displaying that the business is running as usual despite Do Kwon serving in jail. However, the company reportedly now has 40 employees including 15 people who were with the Terraform Labs before the horrible May 2022 crash.
U.S. and South Korea are still seeking Do Kwon’s extradition. He resigned from TFL after facing arrest in Montenegro.
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