Terraform Labs Faces SEC in High-Stakes Trial: Judge Issues Jury Instructions
In a courtroom dispute between the U.S. Securities and Exchange Commission and Terraform #labs , Judge Rakoff criticized both sides for straying off-topic. The SEC alleges that Terraform Labs and its founder, Do Kwon, violated securities laws by engaging in fraudulent activities related to Terraform securities. This includes misleading investors about the involvement of Chai Corp with TFL technology and misrepresenting the stability of UST stablecoin. The trial began with Terraform Labs defending against these allegations, while #DoKwon remains absent due to awaiting extradition decisions. The trial's potential impact on Terra Lab's tokens, LUNA and LUNC, is uncertain. Despite recent upgrades boosting $LUNA prices, concerns about the trial's outcome persist. $LUNC prices have seen fluctuations, influenced by factors like token burning and increasing demand. Currently, #LUNC is priced at $0.000161,with a market capitalization of $939.80.
