🌖 Terraform Labs and CEO Do Kwon have reached a tentative settlement with the U.S. SEC over fraud charges. This follows an April jury verdict finding them guilty of misleading investors about LUNA and TerraUSD (UST). Reported by Reuters, the settlement includes financial restrictions on Kwon’s future activities, with details confidential until June 12.
😮 Despite this partial resolution, Kwon still faces charges from the DOJ and South Korean authorities. His extradition issues also remain unresolved, as both the U.S. and South Korea seek to prosecute him after his arrest in Montenegro for possessing a fake passport.
😮 The settlement news caused LUNA’s price to surge 20%, reflecting renewed investor confidence. Terra ecosystem tokens, particularly LUNA Classic (LUNC) and TerraUSD Classic (USTC), also saw increased interest, with LUNC’s price climbing 15% before settling at a 9% gain in the last 24 hours. Analysts predict a 60% rally for LUNC, aiming for $0.0002, driven by rising trading volumes.
