Terra Common Litigation Fund Prompts ‘Red Flags’ Warning

Gunnar Larson g at xny.io
Thu May 26 14:16:06 PDT 2022


Check out my new article:
https://litigationfinancejournal.com/terra-common-litigation-fund-prompts-red-flags-warning/

Terra Common Litigation Fund Prompts ‘Red Flags’ Warning

Crypto markets are suffering in the wake of the Terra UST stablecoin’s
collapse, which came after losing its $1.00 peg. In the process, over  $60B
in value was wiped out, leaving token holders confused over what might have
happened to the algorithms meant to safeguard the Terra community from such
a devastating loss. A common litigation fund has been organized, but many
are worried about certain red flags associated with the fund’s launch.

CryptoSlate reports
<https://cryptoslate.com/terra-community-litigation-funds-details-raise-red-flags/>
that
the social aspects behind Terra’s demise are ‘catastrophic.’ A compensation
fund has been organized as a decentralized autonomous organization (DAO).
Donors can donate to the fund, and in doing so, gain voting and other
administrative rights to decision making functions.

Those concerned with the lack of regulation of cryptocurrencies claim they
see red flags associated with the fund, however not much in the way of
specifics have been delivered, and thus far no guidance from regulators or
attorneys has been issued.

Click here
<https://cryptoslate.com/terra-community-litigation-funds-details-raise-red-flags/>
to
read more about Terra’s common litigation fund.
-- 
*Gunnar Larson *
*xNY.io <http://www.xny.io/> - Bank.org <http://bank.org/>, PBC*

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Digital Currency
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G at xNY.io
+1-646-454-9107
New York, New York 10001
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