The Case for Suing Celsius, Terraform Labs

The same group of plaintiffs, which includes pseudonymous Terra victim and researcher Fatman, has said it will also file suit against Terraform Labs, the entity that created a litany of apps – like the lending protocol Anchor – that used the LUNA and UST tokens. That possibility highlights one of the key underlying points in the Terra case: Despite leaning on the rhetoric of “decentralization,” Terra was tightly controlled by a small inner group. That could in and of itself become further grounds for claims of misrepresentation and fraud.