
The cryptocurrency market was sent into turmoil following news that Do Kwon, the founder of the stablecoin Terra Luna, pleaded guilty to fraud charges in connection with a $40 billion collapse of his stablecoin systems Luna and TerraUSD. Various sources chronicle how this collapse led to major losses for investors and high profile legal troubles for Kwon. Terra Luna Classic is also weighed for its investment worth, with several price predictions circulating. Despite all this, the co-founder appears unwavered and is even mulling a change of plea.
Apart from the financial discussions, the theme continues in the metaverse with the grand opening of the Universal Terra Luna Resort at Universal Orlando, including reviews, features, and photo tours. Meanwhile, regulation hits the crypto space again with a $200 million settlement by Galaxy Digital over Luna.
Moreover, strategic collaborations and community initiatives are in the works to drive Terra Luna Classic's rehabilitation. There is speculation of a massive surge due to LUNC's increasing burn rate. On another note, the controversy continues over whether Binance has secretly delisted LUNC and how an upcoming vote to raise the 'burn tax' divides the Terra Luna community.
Terra Luna News Analytics from Tue, 10 Sep 2024 07:00:00 GMT to Wed, 13 Aug 2025 19:09:39 GMT -