NewsletterWho Is Do Kwon Founded Terraform Labs New CEO?
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.
Also Read: Binance Burns Binance Coin (BNB) Worth $480 Million
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.
Also Read: Bitcoin Bull Cathie Wood’s Ark Invest Sells More Coinbase and Tesla Shares
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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Fed’s Goolsbee “Optimistic” About More Rate Cuts Next Year Despite FOMC Dissent
- Coinstore Unveils 5-Year Roadmap as Exchange Marks Fifth Anniversary
- Dogecoin ETFs Fail to Attract Capital Despite Hype as Expert Maintains $1 Price for 2026
- What’s Next for Crypto Market as $4.5B in Bitcoin, Ethereum Options Expire Today?
- Bestchange Review: Easily discover the best onramp and offramp trading platforms for crypto and fiat exchange.
- Is Solana Price Poised for a +50% Bullish Rally? Here’s What to Expect
- Top 3 Price Predictions for Bitcoin, Ethereum, and XRP in DEC 2025
- Will Chainlink Price Break Toward $20 After 84K LINK Reserve Increase?
- XRP Price Target $3 as Spot ETFs Continue to See Inflows
- Ethereum price prediction following $57.6M ETF Inflows – What’s Coming?
- Here’s Why Solana Price Could Explode to $150 Soon
