The Court of Montenegro rejected the appeal against the extradition of Terra co-founder Do Kwon. The decision to hand over the entrepreneur to the authorities of the USA or South Korea was yesterday communicated to the country's Minister of Justice, Bojan Božović.
Let's recall that Kwon was arrested in Montenegro on March 23, 2023. The mystery of the story, in which Kwon cannot seem to go to an American or Korean prison, according to media reports - is on the surface. The Prime Minister of Montenegro, Milojko Spajić, was an early investor in Terraform Labs.
The last significant news about Kwon, by the way, was in early August of this year, when #Bloomberg, citing a decision from the Montenegro Court of Appeals, reported that he would be extradited to South Korea, not the USA. The decision was final, but 'Kwon is still there' 🤷♂️.
During his time in Montenegro, Terraform Labs received permission for liquidation from the SEC in the USA. Having agreed to pay $4.47 billion, but, according to experts' estimates, - without having such capability. Kwon himself has expired the term for using forged documents when crossing the border.
#LUNA and #LUNC prices did not react at all to the news this time. Both assets, by the way, transitioned into a stable uptrend on the weekly timeframe in December. Basic targets are in the screenshots.
But if there are at least expectations for offloading their 'bags' on #LUNC from the cryptocurrency exchange Binance (as shown by the experience of #WRX - not concrete expectations), then #LUNA is simply Kwon's new offspring, buying which is like believing in the current 'reincarnations' of MMM, having burned on the first version of this pyramid.
We are holding our position on #LUNC, purchased in the early days after the coin's scam in 2022 on a whim - holding. The entry price is roughly around the current one. We did not sell in the fall of 2022 when it was nearly x4, because from this 'zombie' asset, like from FTT, we are still waiting for more significant growth. But the risks are high. Investments made are amounts we can afford to lose.