On X platform, on-chain analyst John Galt stated that the development team of Terra, Terraform Labs, has deployed approximately $8 million worth of mainstream cryptocurrencies (BTC, ETH, USDC, SOL) into DeFi applications on the Terra blockchain. Currently, Terraform Labs' multi-signature address holds $10 million USDC, $3 million worth of BTC, as well as tokens such as MATIC, ARB, and MKR.
John Galt then added that Chris Amani took over as CEO of Terraform Labs about six months ago, and there are still some old employees from before the LUNA collapse, but also some new hires.
Finally, John Galt stated that Terraform Labs' treasury reserves are rumored to be still quite large, "much larger" than the assets they have deployed to the multi-signature address.