The disgraced firm founded by Do Kwon, Terraform Labs, has found itself a new interim CEO. Chris Amani, who was the COO and CFO from January 2022, will now be responsible for steering Terraform into safer, and, hopefully, more prosperous waters.
Terraform Labs was the first and arguably the most consequential implosion of 2022. Its flagship project, the Terra (UST) stablecoin, and its sister token Luna (LUNA), spectacularly collapsed in the spring of that year.
New Terraform Labs Leadership Has Work Cut Out
When the company fell apart, the domino effect wiped out billions of dollars of value from the crypto markets in a matter of days.
In March 2023, Kwon attempted to travel to Dubai using falsified documents and was arrested in Montenegro. Subsequently, Kwon faced several charges, including securities fraud, commodities fraud, wire fraud, and conspiracy.
It later emerged that Kwon had sent a significant sum of money to a law firm before the collapse of TerraUSD. South Korea and the United States both seek his extradition.
Chris Amani: “We Have A Vision”
Prior to his involvement with Terra in December 2021, Amani served as the CEO of Humanity, a computer software firm specializing in employee scheduling software.
The choice of Amani to head the firm is something of a surprise. In th
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Author: Josh Adams
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