Hey crypto fam, big news today! The proposal to freeze *1.86 billion* worth of *$USTC* (TerraUSD Classic) from the *Luna Foundation* was *rejected*. 🤯 But here’s what went down:
🔴 *Why was it rejected?* Some of the *LUNC validators* voted "NO" at the last minute, *rejecting* the freeze. The reason? They cited the *ongoing court processes* involving the Luna Foundation and the Terra crash. 🏛️
⚖️ *What’s the reasoning behind the "NO" votes?* The validators believe that freezing these funds could have an *impact on the ongoing legal proceedings*. They felt that such a decision might affect the *court's process* or the outcome of the case. They didn’t want to make a move that could influence the legal situation. 📜
💬 *Outcome?* In the end, the "NO" votes won out, and the proposal to freeze the funds was *not accepted*. 🚫
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*Takeaway?* This shows how *legal concerns* and *court cases* can significantly impact crypto decisions, especially when large sums of money are involved. 📉
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Its price a month ago was 00012 and now it is 00007. I agree with you. Investors are starting to be very attracted to it.
Nabilemd
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Bullish
$LUNC What Happens Are We Seeing Manipulation or Serious Work When Terra Classic’s LUNC Token Burn Could Boost LUNC Price Significantly During AI Altcoin Craze Terra Classic has been burning LUNC tokens for a while now. Recently, Terra Classic burned over 400 billion LUNC tokens, making this the largest LUNC token burn to date. This LUNC token burn is being done to reduce the supply of LUNC and thus boost its price. So far, this has not happened, but that is because Terra Classic was caught up in the recent massive cryptocurrency crash. During the crash, the price of Terra Classic dropped to $0.000050, but now it has started to recover. Specifically, Terra Classic is now priced at $0.000070, a 39% increase from its low. This surge shows that Terra Classic is very strong now, and experts say it will only get stronger during this year’s AI altcoin craze. Therefore, they see LUNC as one of the best AI altcoins available right now! Specifically, they believe that LUNC could rise by at least 20,000% this year! #BNBChainMeme #LUNCDream $LUNC
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Du Quan, founder of #TerraformLabs, has been extradited from Montenegro to the United States to face fraud charges. Accused of orchestrating schemes to mislead investors, he allegedly inflated the value of Terraform’s cryptocurrencies through manipulation and misrepresentations, causing losses of over $40 billion after the collapse of#TerraUSDand #LUNA in May 2022. The charges include commodity fraud, securities fraud, wire fraud, and money laundering, with a maximum sentence of 130 years. Quan allegedly laundered proceeds, misrepresented products, and used fraudulent tactics to avoid detection. His first court appearance in New York is scheduled for January 8, 2025.