Do Kwon, co-founder of blockchain network Terra, just scored a significant legal victory. An appeals court in Montenegro overturned a lower court's decision to extradite him to the United States (US).
Victory of Do Kwon's Law:
Montenegro's appeals court overturned an earlier extradition decision, citing "significant violations of criminal procedural provisions."
Kwon and his lawyers are appealing the extradition decision to the US related to the collapse of the $60 billion Terra in May 2022.
Kwon's lawyer, Goran Rodic, stated that the appeal decision once again confirmed the invalidity of the previous ruling.
The case was returned to the lower court for review.
Positive Impact on LUNC:
Following Do Kwon's legal victory, the price of LUNC, the native token of the Terra Classic network, saw a significant increase.
LUNC price jumped more than 11% within minutes, trading at $0.00020395.
This price increase reflects the optimism that has emerged again among investors and the LUNC community.
Future Opportunities:
Do Kwon's legal victory and LUNC price surge could be a positive turning point for the Terra Classic ecosystem.
Some speculate that Do Kwon may focus on Terra's recovery efforts, including the potential restabilization of USTC to $1 in the near term, Terra's stablecoin which previously lost peg to the US dollar.
However, developments in this situation still need to be monitored carefully. Investors are advised to always carry out in-depth research and analysis before making investment decisions.
Disclaimer:
This article is for informational purposes only and should not be considered financial advice.
