Terra Labs gets new CEO

Change of guard at Terraform Labs: the company behind the collapsed Terra ecosystem has a new CEO. So reports the Wall Street Journal.

Terraform Labs, the company behind the collapsed Terra Luna ecosystem, is thus free of former CEO Do Kwon. Kwon is now out on bail. The new man is Chris Amani. He was previously COO and CFO at the company.

Amani replaces Terraform's previous CEO and founder, Do Kwon. Prosecutors are investigating the South Korean for fraud, among other things. In March, authorities arrested the 31-year-old in Montenegro. After lengthy back and forth, Kwon has since been temporarily released on US$400,000 bail. Kwon is popular with the judiciary; in addition to South Korea, the United States is also demanding extradition.