Terraform's Legal Team Quits Amid Terra Stablecoin Fallout
Marc Goldich, Lawrence Florio and Noah Axler left the Terra ecosystem backer in May, according to their LinkedIn profiles.
Terraform Labs’ legal team has resigned.
- Counsel team members Marc Goldich, Lawrence Florio and Noah Axler all stopped working at the company in May, their LinkedIn profiles showed Tuesday. The Block first reported their departure Tuesday.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.