ICYMI: Luna Foundation Guard postpones compensation efforts, cites ‘ongoing and threatened litigation’
The Luna Foundation Guard cited mounting legal pressure and threats as a reason to forestall repayment efforts.Since the collapse of the TerraUSD, the algorithmic stablecoin that catastrophically lost parity with the U.S. dollar earlier this year, the Luna Foundation Guard maintained it would follow through with efforts to compensate users with losses.
However, it would appear the wait for compensation may yet drag out as LFG cited “ongoing and threatened litigation” as reasons to postpone distributions to users with losses.
the company’s head of general business operations, though a judge later threw out that arrest warrant. Terraform Labs founder Do Kwon© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Jeremy Nation is a Senior Reporter at The Block covering the greater blockchain ecosystem.
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