Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Terraform Labs’ legal team has resigned.
Employees have fled Terraform Labs, the company behind the Terra blockchain, after last week’s collapse of the stablecoin terraUSD, the LUNA token and the entire Terra ecosystem.
“The past week has been challenging for Terraform Labs, and a small number of team members resigned in recent days. The vast majority of team members remain steadfastly committed to carrying out the project’s mission. Terra is more than $UST, with an incredibly passionate community and a clear vision on how to rebuild. Our focus is now on executing our plan to revive the Terra ecosystem," a Terraform Labs spokesperson told CoinDesk.
UPDATE (May 17, 2022, 19:13 UTC): Added comment from Terraform Labs spokesperson.