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Terra Classic Price Analysis: Over the five days, the LUNC price showed alternate green and red candles indicating no dominance from buyers or sellers to take trend control. This uncertainty could have arisen as the US SEC filed legal action against the big crypto exchanges Binance(BNB) and Coinbase(COIN).
As every week, BeInCrypto presents the TOP 5 altcoins that increased the most in the cryptocurrency market during the last 7 days. More specifically, the period between June 4-9, 2023.
Kwon or "someone under his direction" purportedly moved almost $30 million in crypto after the arrest in Montenegro and cashed out the funds.
The LUNC price experienced a significant increase of more than 37% over the last week. However, the Terra Classic price subsequently encountered bearish rejection at the Golden Ratio resistance
Disgraced Terraform Labs Co-founder Do Kwon has an established relationship with an influential Montenegrin politician, according to the Korean news agency Yonhap. Montenegro's Prime Minister revealed this information days before the country's parliamentary elections – scheduled for June 11.
The Korean prosecutor's office revealed that Do Kwon had withdrawn $29 million in assets linked to Terra since his arrest.
South Korean authorities are investigating the whereabouts of about $29 million worth of cryptocurrencies allegedly moved from a crypto wallet controlled by Do Kwon's Luna Foundation Guard (LFG).
Investigators say that the founder of Terra Luna, Do Kwon, withdrew $29 million in crypto from an entity linked to his failed blockchain company.
According to a senior South Korean prosecutor, Terraform Labs co-founder and CEO Do Kwon is facing potential legal consequences in the United States and South Korea.
Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro in March.
The Terra Classic community showed unanimous support to pass the v2.1.0 Parity upgrade proposal submitted by the core developer group Joint L1 Task Force (L1TF). With the proposal now passed, the L1TF will upgrade the chain on June 14 to bring many significant changes to Terra Classic.
Story Highlights Terra Classic price is expected to reach as high as $0.000314 by the end of 2023. LUNC price could surge to a maximum of $0.00212 by the end of 2030. The current price of LUNC is . One of the biggest disasters the industry could ever face.
In a recent interview, prosecutors have raised the possibility of dual jail time for Terraform Labs co-founder as legal complexities arise between the US and South Korea.
Do Kwon, co-founder of Terraform Labs, could spend the part spent most of his life in prison when he could be tried and convicted in both places, first in Korea, then in America.
The co-founder and CEO of Terraform Labs, Do Kwon, is facing the possibility of multiple sentences in both the United States and South Korea, according to a senior South Korean prosecutor leading the investigation.
South Korean prosecutors allege Do Kwon has transferred crypto worth millions through a shell company or dummy company linked to Terra since his arrest by Montenegro authorities in March. The Montenegro High Court to decide this week on the bail request of Do Kwon and former CFO Han Chang-joon as prosecutors filed an appeal against
South Korean senior prosecutor Dan Sunghan says Kwon's extradition to South Korea makes better sense, but suggested Kwon could also serve time in the US too.
The prosecutor heading the probe into Do Kwon and Terraform Labs believes that Do Kwon may be handed a record 40 year prison sentence. The Terra founder could then be extradited to the US to face trial and serve a separate jail term if convicted.
The disgraced former crypto titan Do Kwon may spend most of his life behind bars, first in his native South Korea and then in the US, according to a scenario laid out by Dan Sunghan, who heads the probe into the fallen entrepreneur. Both South Korea and the US are seeking Kwon's extradition.
Reports have emerged suggesting that Do Kwon, the co-founder of Terra, had financial connections to the leader of a political party in Montenegro.
Terra co-founder Do Kwon allegedly had financial relations with the leader of a political party in Montenegro.
Terra Classic Price Analysis: In the past few days, the crypto market witnessed high volatility due to the legal battle between Binance, the world's largest crypto exchange, and the Securities and Exchange Commission(SEC). Though the LUNC price showcased a huge price swing during this period, this movement was confined within the two converging trendlines of
Terra Classic (LUNC) core developer team Joint L1 Task Force (L1TF) plan to work on TerraClassicUSD (USTC) repeg to $1 after the v2.1.0 parity upgrade is approved by the Terra Classic community. After completing the CosmWasm parity upgrade on June 14, the LITF will use a small portion of its budget to set up a
Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, continues on its upward trajectory despite the latest crypto market panic triggered by two consecutive lawsuits by the US Securities and Exchange Commission (SEC) against leading crypto exchanges Binance and Coinbase, respectively.
