According to the current developments in the Terra case in the USA, contrary to what was said, no cryptocurrency was used on the payment platform called Chai.
According to statements made by Judge Jed Rakoff Chai on the platform Terra blockchain It was learned that it was never used.
Do Kwon, founder of Terraform Labs, often cited the Chai platform as an example when talking about the usage areas of Terra. However, according to the court’s findings, payment transactions on the platform traditional methods, not crypto money It was done with.
The court’s findings are based largely on a whistleblower who spoke to the U.S. Securities and Exchange Commission (SEC). Judge Rakoff has not yet ruled on the fraud allegations due to lack of concrete evidence.
Judge is still issued by Terraform Labs TerraUSD (UST), LUNA, wLUNA And Mirror Protocol (MIR) of tokens is a security and decided that they were sold unregistered.