TerraForm Labs' in-house legal team has resigned following the collapse of TerraUSD (UST) and LUNA.

More tragic events are unfolding in the aftermath of the UST and LUNA crashes.

TerraForm Labs' legal counsel team has purportedly left their jobs following the collapse of TerraUSD (UST) and LUNA.

A brief search at the firm's in-house counsel's LinkedIn accounts reveals that Marc Goldich, Terra's general counsel, Noah Axler, the company's top litigation and regulatory counsel, and Lawrence Florio, the company's chief corporate counsel, no longer work for the crypto-related company.

They left Terra this month, according to the information on their LinkedIn pages.

Their employment obligations are currently being performed by counsel outside of Terra, following their resignation from the company.

Other Terra employees remain optimistic about the company's mission.

Following the collapse of the UST stablecoin, a number of Terra employees have resigned from their employment, according to sources.

However, a large number of Terra employees are optimistic that the company will overcome its difficulties quickly.

"Terra is more than UST, with an incredibly passionate community and a clear vision on how to rebuild. Our focus is now on executing our plan to revive the Terra ecosystem," according to a spokeswoman.

Terra's Resilience to Recover Investments

The tragedy occurs less than a week after Terra's ecosystem tokens saw one of the largest losses in the whole crypto market since its debut, when UST lost its peg to the US Dollar.

Since the terrible situation, all attempts to prevent cryptocurrencies from falling even more have failed.

The Terra team, on the other hand, is not giving up on investors, and it has reiterated its commitment to making investors whole again.

Do Kwon, the CEO and co-founder of TerraForm Labs, announced yesterday that the company would fork a new chain from the old one in order to compensate investors.

Validators have expressed interest in continuing to work on Terra so far, and have expressed support for the proposal.