"Hopefully this new CEO is of a higher caliber than Do Kwon la, I'm afraid he'll have the same behavior later."
Terraform Labs yesterday was reported to have appointed an interim director and Chief Executive Officer (CEO) after Do Kwon, the individual behind the collapse of Terra Classic (LUNC), resigned on March 31, 2023.
Chris Amani, the former Chief Operating Officer (COO) of Terraform Labs who will serve as interim CEO is tasked with speeding up the operations of the blockchain firm which is still in crisis.
Please note that Amani has extensive experience in managing global technology companies as he has not only served as CEO at Humanity but has also been a director at MongoDB, Electronic Arts and Zynga.
There is no denying that 2023 will be a challenging year for Terra as the value of UST continues to decline, but the community remains eager to rebuild Terra without the stablecoin, Amani commented.
Although the community may face various challenges during the process, Amani said that the Terra team has a very clear vision to further develop his firm in the Web3 world.
It is widely known that Terra's business is currently running as usual despite Kwon's imprisonment, with the blockchain firm now having 40 new employees including 15 old staff.
The United States (US) and South Korea are still seeking the extradition of Kwon who resigned as CEO of Terra after being arrested by the authorities in Montenegro.
As of writing, LUNC price plunged by 2.45% to $0.0000874 in the last 24 hours with a market cap of $507 million but still recorded a jump of around 4.61% over the last week.
