CEO: Progress at Terraform Labs Derailed by Accusations

• Chris Amani, recently appointed CEO of Terraform Labs, held a Twitter Spaces to discuss the challenges ahead for the company as allegations against former CEO Do Kwon derail their progress.
• Kwon is currently in a Montenegro jail cell facing possible extradition to either South Korea or the United States.
• Despite this, Amani revealed that nine projects are currently in development and there will be no new tokens released with these new developments.

Terraform Labs Appoints New Interim CEO

Terraform Labs recently appointed Chris Amani as its interim CEO to separate operations from Do Kwon’s personal affairs.

Allegations Against Former CEO Impede Progress

Amani held a Twitter Space titled A Terra Community Talk where he discussed the challenges ahead for Terramoving forward due to frequent accusations against Kwon which have been impeding the progress of its various projects in development.

Situation of Former CEO

Kwon was found guilty of attempting to leave Montenegro using a false Costa Rican passport and sentenced to four months in prison despite reportedly telling the court that he wasn’t aware about it being allegedly forged. Amani expressed his hope that Kwon’s name will be cleared so he can “come back and participate” as soon as possible.

Current Developments

Amani revealed there are nine different projects at various levels of development which are expected to be released over the coming months. He also noted that no new tokens will be launched with any of these new developments but instead they’ll focus on driving utility back to its native token, Terra LUNA $0.61 .

Rebuilding Not Easy

Amani acknowledged it would be a “big hill to climb”, noting that rebuilding isn’t easy in crypto right now but still believes it is not an unique situation within the cryptocurrency industry.