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You know what happens if you start a company and drive it into the ground? Bankruptcy. Your debtors are fucked. Then you start another company and own all the shares. This is total nonsense.https://twitter.com/FatManTerra/status/1530889290296737793 …
Correction from counsel: company assets are handed to a trustee and liquidated, preferential transactions too close to the insolvency are clawed back into the common estate, as many creditors as possible are paid out, and *then* they are f*cked. It's not that easy!
Yea. Still fucked. They’d get a penny on the dollar here if anything at all after lawyers take theirs.
so.... what happend to the BTC with LFG wallet ? they seems to be sitting in cold storage no ?
Wait are u saying Terra is a company and Luna is actually a security. And btw would UST be a product or a security then?
I’m saying if it were, nobody would see any cash out of it. Then again it would have gotten bailed out by the governement because of systemic risk. Terra + ust was bigger than bear sterns.
VC would have preferred equity though and paid out before any average investor would, but this is not tradfi. This is the most risky startup tech sector, so should it be treated like if a f500 goes under?
This is new legal ground and it's just not that easy. Have a look at this analysis for more information:https://agora.terra.money/t/next-steps-for-luna-ust-holders-a-detailed-analysis/22084 …
Dudes. Terra 2.0 is not TFL. Its not VC. It’s not Do Kwon. At least that’s my understanding. Terra 2.0 is now The largest community owned and run chain, as far as I know. Dramatically more decentralized been previously. Am I wrong?
Correct - I don't believe Terra 2 (as in the network, the new community, the builders) owes anyone anything
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