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The Montenegrin Constitutional Court denied Do Kwon's extradition appeal
Montenegro's Constitutional Court dismissed Do Kwon's appeal, co-founder of Terraform Labs and a key role in TerraUSD (UST) and Luna's failure.
Kwon's attempts to fight the proceedings were dashed by the court's December 24 judgment, which supported the Minister of Justice's extradition power.
Kwon appealed and challenged a Supreme Court verdict that blocked his transport to South Korea, delegating extradition decision to Justice Minister Bojan Božović.
The Constitutional Court rejected these petitions, allowing the Justice Minister to decide Kwon's destiny.
Local sources say Montenegro may extradite him to the US rather than South Korea, with experts citing national interests.
Kwon, suspected of triggering $34 billion in Terra-Luna crash damages, fled South Korea in 2022 and is under investigation.
After going via Singapore, the UAE, and Serbia, he was caught in Montenegro for forging a passport.
Despite the verdict, Kwon's lawyers will likely fight to prevent his extradition to the U.S., where he faces many counts.
Montenegro has been requested to speed up the procedure by South Korean officials, who fear human rights breaches.
Kwon's extradition timeframe is unknown, but the court's ruling has limited his legal choices.
They will also be permanently barred from trading “crypto asset securities,” including Terra tokens.
After the SEC proposed a $5.3 billion penalty, Terraform Labs argued for a $1 million maximum punishment.
On June 6, Kwon and Terraform Labs' lawyers accepted the SEC's amended settlement offer of $4.5 billion.
Kwon, who is in Montenegro awaiting extradition, did not attend the settlement trial.
Terraform Labs, under Chapter 11 bankruptcy, must meet the settlement's large financial commitments.
Terraform Labs' CEO, Chris Amani, said that the firm had $150 million in assets.
However, how the corporation will pay the settlement's large penalty is unknown.
#LUNC #LUNA #MarketRebound #BTCNextMove #TerraForm $LUNC $LUNA $USTC
Montenegro's Constitutional Court dismissed Do Kwon's appeal, co-founder of Terraform Labs and a key role in TerraUSD (UST) and Luna's failure.
Kwon's attempts to fight the proceedings were dashed by the court's December 24 judgment, which supported the Minister of Justice's extradition power.
Kwon appealed and challenged a Supreme Court verdict that blocked his transport to South Korea, delegating extradition decision to Justice Minister Bojan Božović.
The Constitutional Court rejected these petitions, allowing the Justice Minister to decide Kwon's destiny.
Local sources say Montenegro may extradite him to the US rather than South Korea, with experts citing national interests.
Kwon, suspected of triggering $34 billion in Terra-Luna crash damages, fled South Korea in 2022 and is under investigation.
After going via Singapore, the UAE, and Serbia, he was caught in Montenegro for forging a passport.
Despite the verdict, Kwon's lawyers will likely fight to prevent his extradition to the U.S., where he faces many counts.
Montenegro has been requested to speed up the procedure by South Korean officials, who fear human rights breaches.
Kwon's extradition timeframe is unknown, but the court's ruling has limited his legal choices.
They will also be permanently barred from trading “crypto asset securities,” including Terra tokens.
After the SEC proposed a $5.3 billion penalty, Terraform Labs argued for a $1 million maximum punishment.
On June 6, Kwon and Terraform Labs' lawyers accepted the SEC's amended settlement offer of $4.5 billion.
Kwon, who is in Montenegro awaiting extradition, did not attend the settlement trial.
Terraform Labs, under Chapter 11 bankruptcy, must meet the settlement's large financial commitments.
Terraform Labs' CEO, Chris Amani, said that the firm had $150 million in assets.
However, how the corporation will pay the settlement's large penalty is unknown.
#LUNC #LUNA #MarketRebound #BTCNextMove #TerraForm $LUNC $LUNA $USTC
Billionaire-R:
Dead coin 🪙
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Do Kwon's extradition process has turned into a long story. To the US or South Korea?
Finally, the Montenegrin Court had ruled for extradition for Do Kwon. Do Kwon appealed this decision. As a result; the Constitutional Court of Montenegro also rejected Do Kwon's request.
🔔 The final decision for Do Kwon's extradition is with the Montenegrin Minister of Justice... The needle is on the US side for Do Kwon, who is expected to be extradited to South Korea or the US...
We will continue to follow the developments regarding Do Kwon as they directly affect LUNC, USTC and LUNA...
#TerraClassic #LUNC #USTC #LUNA $LUNC $LUNA $USTC
Finally, the Montenegrin Court had ruled for extradition for Do Kwon. Do Kwon appealed this decision. As a result; the Constitutional Court of Montenegro also rejected Do Kwon's request.
🔔 The final decision for Do Kwon's extradition is with the Montenegrin Minister of Justice... The needle is on the US side for Do Kwon, who is expected to be extradited to South Korea or the US...
We will continue to follow the developments regarding Do Kwon as they directly affect LUNC, USTC and LUNA...
#TerraClassic #LUNC #USTC #LUNA $LUNC $LUNA $USTC
Waltraud Fenger fQPA:
You can go anywhere, no one is playing anymore
🌕$LUNA / USDT on the Move!
📊 Current Price: $0.4522 (+7.08%)
🚀 24H High: $0.4591
📉 24H Low: $0.4120
📈 Volume: 21.13M LUNA
$LUNA has seen a strong upward momentum, hitting a 7% increase today! With the price crossing above its moving averages (MA7: $0.4534, MA25: $0.4450, MA99: $0.4351), the bullish sentiment is clear. Traders should watch for resistance at $0.4591 while support builds around $0.4479.
🔍 Volume remains high at over 21M LUNA, indicating significant market activity. Is this the start of a larger breakout?
Stay tuned for updates and trade wisely!
#Binance #CryptoTrading #LUNA
📊 Current Price: $0.4522 (+7.08%)
🚀 24H High: $0.4591
📉 24H Low: $0.4120
📈 Volume: 21.13M LUNA
$LUNA has seen a strong upward momentum, hitting a 7% increase today! With the price crossing above its moving averages (MA7: $0.4534, MA25: $0.4450, MA99: $0.4351), the bullish sentiment is clear. Traders should watch for resistance at $0.4591 while support builds around $0.4479.
🔍 Volume remains high at over 21M LUNA, indicating significant market activity. Is this the start of a larger breakout?
Stay tuned for updates and trade wisely!
#Binance #CryptoTrading #LUNA
The Ticker is $LUNA
Extremely Undervalues ATM, But will melt faces in coming weeks.
5$ to 7$ is the area where you can start taking profit.
10x-15x potential Material 🚀
#Luna #FTX #ALTSEASON
#BinanceAlphaAlert
Extremely Undervalues ATM, But will melt faces in coming weeks.
5$ to 7$ is the area where you can start taking profit.
10x-15x potential Material 🚀
#Luna #FTX #ALTSEASON
#BinanceAlphaAlert
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Montenegro's Constitutional Court denies Do Kwon's appeal
The Constitutional Court of Montenegro has rejected the extradition appeal of Do Kwon, co-founder of Terraform Labs, thus officially upholding the ruling to extradite him to the United States and South Korea. This decision marks a significant legal defeat for Kwon, who faces multiple charges of financial fraud related to the collapse of the Terra Luna empire, which caused more than $40 billion in losses in 2022.
The Unprecedented Collapse of LUNA Classic (LUNC): A Cautionary Tale
In May 2022, the cryptocurrency market witnessed one of its most devastating events—the dramatic fall of LUNA Classic (formerly Terra LUNA) from a peak value of over $119 to an unimaginable low of $0.00001. This catastrophic collapse, marked by a series of interlinked failures, remains a stark reminder of the risks associated with algorithmic stablecoins and flawed economic frameworks.
The Fall of USTand the Chain Reaction
At the heart of the crisis was UST, an algorithmic stablecoin engineered to maintain parity with the US dollar. Its stability relied on a mint-and-burn mechanism tied to LUNA. However, in May 2022, UST began losing its $1 peg due to large-scale withdrawals and suspected market manipulation. To restore the peg, the system generated massive amounts of LUNA, flooding the market with an unprecedented supply. This hyperinflation caused LUNA's value to plummet, transforming what was once a thriving ecosystem into a disaster zone.
Panic, Loss of Trust, and Exploitation
As LUNA's value spiraled downward, panic ensued among investors, triggering a wave of sell-offs. The resulting instability not only amplified fears but also led to a liquidity crisis, as confidence in the algorithmic stablecoin model shattered. Speculation suggests that the collapse was exacerbated by coordinated attacks from major players who shorted LUNA while exploiting the depegging of UST for financial gain.
Aftermath and Lessons Learned
The fallout from this event was severe. The original Terra blockchain was rebranded, giving rise to $LUNA A Classic (LUNC), while a new network launched under the name $LUNA 2.0. Despite these efforts, the ecosystem has struggled to rebuild investor confidence. The $LUNA A collapse serves as a powerful lesson for the crypto industry, underscoring the vulnerabilities of algorithmic stablecoins and the dangers of flawed economic systems. It is a stark reminder of the need for robust models and investor caution in this volatile
landscape.
#LUNA #ChristmasMarketAnalysis #BTCNextMove #ElSalvadorBTCReserve
The Fall of USTand the Chain Reaction
At the heart of the crisis was UST, an algorithmic stablecoin engineered to maintain parity with the US dollar. Its stability relied on a mint-and-burn mechanism tied to LUNA. However, in May 2022, UST began losing its $1 peg due to large-scale withdrawals and suspected market manipulation. To restore the peg, the system generated massive amounts of LUNA, flooding the market with an unprecedented supply. This hyperinflation caused LUNA's value to plummet, transforming what was once a thriving ecosystem into a disaster zone.
Panic, Loss of Trust, and Exploitation
As LUNA's value spiraled downward, panic ensued among investors, triggering a wave of sell-offs. The resulting instability not only amplified fears but also led to a liquidity crisis, as confidence in the algorithmic stablecoin model shattered. Speculation suggests that the collapse was exacerbated by coordinated attacks from major players who shorted LUNA while exploiting the depegging of UST for financial gain.
Aftermath and Lessons Learned
The fallout from this event was severe. The original Terra blockchain was rebranded, giving rise to $LUNA A Classic (LUNC), while a new network launched under the name $LUNA 2.0. Despite these efforts, the ecosystem has struggled to rebuild investor confidence. The $LUNA A collapse serves as a powerful lesson for the crypto industry, underscoring the vulnerabilities of algorithmic stablecoins and the dangers of flawed economic systems. It is a stark reminder of the need for robust models and investor caution in this volatile
landscape.
#LUNA #ChristmasMarketAnalysis #BTCNextMove #ElSalvadorBTCReserve
🌟 LUNA & FLOKI Coin Price Outlook: What's Next? 🌟
---
🚨 LUNA Coin (LUNA)
🔹 Current Price: $0.549
🔹 Bearish Scenario: If LUNA fails to hold, we could see a drop to $0.4453, and potentially as low as $0.352.
🔹 Key Challenge: LUNA must reclaim critical support levels to prevent a deeper downtrend.
---
⚠️ FLOKI Coin (FLOKI)
🔹 Current Price: $0.0001603
🔹 Support Alert: FLOKI is struggling to stabilize around this level. A continued downtrend could push it towards $0.0001121.
🔹 Critical Zone: FLOKI must hold above this support to avoid further declines.
---
🔑 Key Insights
LUNA needs to reclaim its previous support levels to avoid further drops.
FLOKI must stabilize above its current support zone to secure its position.
Both LUNA and FLOKI are at critical crossroads. The next few days will determine if these coins can rebound or if a further decline is in store!
$LUNA
$FLOKI
#LUNA #FLOKI Crypto Watch #altcoinprice #MarketTrends #cryptoanalysis #LUNACoin #FLOKICoin
---
🚨 LUNA Coin (LUNA)
🔹 Current Price: $0.549
🔹 Bearish Scenario: If LUNA fails to hold, we could see a drop to $0.4453, and potentially as low as $0.352.
🔹 Key Challenge: LUNA must reclaim critical support levels to prevent a deeper downtrend.
---
⚠️ FLOKI Coin (FLOKI)
🔹 Current Price: $0.0001603
🔹 Support Alert: FLOKI is struggling to stabilize around this level. A continued downtrend could push it towards $0.0001121.
🔹 Critical Zone: FLOKI must hold above this support to avoid further declines.
---
🔑 Key Insights
LUNA needs to reclaim its previous support levels to avoid further drops.
FLOKI must stabilize above its current support zone to secure its position.
Both LUNA and FLOKI are at critical crossroads. The next few days will determine if these coins can rebound or if a further decline is in store!
$LUNA
$FLOKI
#LUNA #FLOKI Crypto Watch #altcoinprice #MarketTrends #cryptoanalysis #LUNACoin #FLOKICoin
🌑 LUNA Coin: A Critical Moment in Its Journey 🌑
$LUNA
Once a powerhouse in the crypto world, LUNA Coin now finds itself battling extreme selling pressure, teetering on the edge of new lows.
💰 Current Price: $0.416
📉 Key Support: Lost crucial footing at $0.55, intensifying market fears.
⚠️ Potential Scenarios for LUNA
🔻 Breaching $0.38:
If LUNA falls below this level, it could spiral further toward its all-time low of $0.24.
🔹 Current Market Sentiment: Traders are exercising caution as bearish momentum dominates.
LUNA’s future hangs in the balance. Can it find stability, or will it continue its descent? Traders should closely watch these critical levels as the coin faces a defining moment in its history.
🔥 Stay vigilant and trade smart! 🔥
#LUNA #CryptoAnalysis #CRYPTOMARKET #Altcoins #Marketupdate
$LUNA
Once a powerhouse in the crypto world, LUNA Coin now finds itself battling extreme selling pressure, teetering on the edge of new lows.
💰 Current Price: $0.416
📉 Key Support: Lost crucial footing at $0.55, intensifying market fears.
⚠️ Potential Scenarios for LUNA
🔻 Breaching $0.38:
If LUNA falls below this level, it could spiral further toward its all-time low of $0.24.
🔹 Current Market Sentiment: Traders are exercising caution as bearish momentum dominates.
LUNA’s future hangs in the balance. Can it find stability, or will it continue its descent? Traders should closely watch these critical levels as the coin faces a defining moment in its history.
🔥 Stay vigilant and trade smart! 🔥
#LUNA #CryptoAnalysis #CRYPTOMARKET #Altcoins #Marketupdate
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How much will the price be today 302929206231 321355305682
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Binance News
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Binance Labs Invests in Usual to Transform Stablecoins with Community-Centric Innovation
Binance Labs has announced its investment in Usual, a decentralized stablecoin issuer backed by real-world assets (RWAs), to drive innovation and redefine the stablecoin landscape. Through its $USUAL token, Usual empowers its community by redistributing value and ownership, fostering a decentralized and equitable financial model.Key Highlights:Revolutionary Stablecoin Model:Usual introduces a stablecoin collateralized by RWAs, blending the security of real assets with the liquidity and composability of DeFi.This model mitigates banking risks and creates opportunities for shared rewards, governance, and value redistribution.Community-First Approach:Traditional stablecoin issuers often centralize liquidity; Usual disrupts this model by allocating 90% of $USUAL tokens to users, ensuring value circulates within its ecosystem.$USUAL, the governance token, ties its intrinsic value to the protocol’s revenue model, providing sustainable benefits to its holders.Support from Binance Labs:Binance Labs, known for supporting transformative blockchain projects, co-led Usual’s Series A funding round.This partnership will accelerate Usual's mission to push the boundaries of stablecoins, emphasizing inclusivity and community empowerment.Shared Vision for Stablecoin Evolution:Alex Odagiu, Investment Director at Binance Labs, stated:“Stablecoins are pivotal in onboarding new crypto users, and Usual’s approach sets a benchmark for innovation. We’re excited to back Usual’s mission to reshape stablecoins and expand the ecosystem.”Pierre Person, CEO at Usual Labs, remarked:“Binance Labs’ commitment to transformative projects aligns perfectly with Usual’s vision. Together, we’ll ensure the stablecoin market remains innovative and community-driven.”
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🚀 LUNA: The Return of Cryptocurrency - Growth Expectation and Investment Simulation until 2030
LUNA, the cryptocurrency of the Terra network, has seen a significant drop but is showing signs of recovery with the launch of LUNA 2.0. Now, many investors are wondering: how much will LUNA be worth by 2030 and how to invest wisely in this asset? 🌟 Let’s explore LUNA’s value expectations and simulate a monthly investment of $50 until 2030. 💸
---
1. LUNA Growth Expectation until 2030 📈
LUNA has been on a recovery path since the crash caused by the collapse of TerraUSD (UST), but the restructuring and new partnerships are giving hope for the future. 💪
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1. LUNA Growth Expectation until 2030 📈
LUNA has been on a recovery path since the crash caused by the collapse of TerraUSD (UST), but the restructuring and new partnerships are giving hope for the future. 💪
BetoSquare-Creator-8e49b8197d5afba055aRD:
Só em falar nesse nome ,já ficamos no mundo da lua,até agora foram um lixo e bem fedido...
Analysts Discussed: “Bitcoin Should Never Go Below This Level, Crash Could Be 100 Times Worse Than FTX and LUNA Crashes”
Alliance DAO partners recently expressed concerns in a podcast about potential risks to Bitcoin’s price over the next four years, especially if it falls below $58,000.
This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves.
MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply.
According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks.
Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market.
On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history.
A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history.
Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation.
#BitcoinCrash #BitcoinAnalysis #CryptoCrash #FTX #LUNA $BTC $LUNA $LUNC
Alliance DAO partners recently expressed concerns in a podcast about potential risks to Bitcoin’s price over the next four years, especially if it falls below $58,000.
This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves.
MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply.
According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks.
Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market.
On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history.
A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history.
Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation.
#BitcoinCrash #BitcoinAnalysis #CryptoCrash #FTX #LUNA $BTC $LUNA $LUNC
“Bitcoin Should Never Go Below This Level, Crash Could Be 100 Times Worse Than FTX & LUNA.
Alliance DAO partners recently expressed concerns in a podcast about potential risks to Bitcoin’s price over the next four years, especially if it falls below $58,000.
This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves.
MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply. According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks.
Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market.
On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history. A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history.
Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation.
#BitcoinCrash #BitcoinAnalysis #CryptoCrash #FTX #LUNA $BTC $LUNA $LUNC
This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves.
MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply. According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks.
Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market.
On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history. A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history.
Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation.
#BitcoinCrash #BitcoinAnalysis #CryptoCrash #FTX #LUNA $BTC $LUNA $LUNC
Will LUNA Pump or Dump in the Next 5 Hours? | Crypto Price Prediction?
1.Current Price and Price Movement
The price of #LUNA is around 0.40 USD, and it has been declining recently. If this downtrend continues, the price could reach 0.35 USD. However, if market conditions are favorable, it could rise to 0.45 USD.
2. Volume and Market Indicators
According to recent analysis and volume data, LUNA's trading volume is decreasing, which means fewer buyers or sellers are entering the market, leading to less volatility in price movements.
3. Overall Crypto Market Conditions
If the overall crypto market remains in a downtrend, LUNA could face negative impacts. News from the Federal Reserve or other economic factors can influence the prices of cryptocurrencies.
4. News and Rumors
: News regarding LUNA, such as project updates or changes in its usage, can affect its price.
Technical Analysis
If the price holds around 0.42 USD, this could be a strong support zone. If this level remains stable, the price could rise to 0.45 USD.
If it drops below 0.40 USD, the next support levels could be 0.38 USD or even 0.35 USD.
Conclusion The direction of LUNA's price in the next five hours will depend on market reactions. If the market remains positive, a rise to 0.45 USD is possible, while a downtrend could push it to 0.35 USD.
Crypto markets are highly volatile, and prices can change rapidly. Always consider the risks before making trading decisions.
#luna
1.Current Price and Price Movement
The price of #LUNA is around 0.40 USD, and it has been declining recently. If this downtrend continues, the price could reach 0.35 USD. However, if market conditions are favorable, it could rise to 0.45 USD.
2. Volume and Market Indicators
According to recent analysis and volume data, LUNA's trading volume is decreasing, which means fewer buyers or sellers are entering the market, leading to less volatility in price movements.
3. Overall Crypto Market Conditions
If the overall crypto market remains in a downtrend, LUNA could face negative impacts. News from the Federal Reserve or other economic factors can influence the prices of cryptocurrencies.
4. News and Rumors
: News regarding LUNA, such as project updates or changes in its usage, can affect its price.
Technical Analysis
If the price holds around 0.42 USD, this could be a strong support zone. If this level remains stable, the price could rise to 0.45 USD.
If it drops below 0.40 USD, the next support levels could be 0.38 USD or even 0.35 USD.
Conclusion The direction of LUNA's price in the next five hours will depend on market reactions. If the market remains positive, a rise to 0.45 USD is possible, while a downtrend could push it to 0.35 USD.
Crypto markets are highly volatile, and prices can change rapidly. Always consider the risks before making trading decisions.
#luna
soái ca đô la :
Stopped decreasing and is accumulating waiting for supply to come in.
Breaking News
🔥 SEC has charged Jump Crypto for its involvement in the collapse of Terra's stablecoin. This highlights the need for greater regulation in the crypto space. What does this mean for the future of stablecoins and crypto firms? 🤔💸
#Blockchain #cryptonews #ethereum #luna
#Blockchain #cryptonews #ethereum #luna
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🔥 SEC FINES TAI MO SHAN FOR MARKET MANIPULATION
In a move aimed at deterring market manipulation in the cryptocurrency space, the SEC has fined Tai Mo Shan, a unit of Jump Trading, $123 million.
Investigations revealed that this company engaged in an opaque "market making" strategy with UST, purchasing a large amount of UST to support its price and receiving Luna tokens at attractive discounts in return.
This behavior clearly violates securities trading regulations and has caused harm to investors.
#SEC #UST #LUNA
In a move aimed at deterring market manipulation in the cryptocurrency space, the SEC has fined Tai Mo Shan, a unit of Jump Trading, $123 million.
Investigations revealed that this company engaged in an opaque "market making" strategy with UST, purchasing a large amount of UST to support its price and receiving Luna tokens at attractive discounts in return.
This behavior clearly violates securities trading regulations and has caused harm to investors.
#SEC #UST #LUNA
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#Luna Tai Mo Shan, a subsidiary of Jump Crypto, agreed to pay $123 million to the U.S. Securities and Exchange Commission for misleading investors about the stability of the algorithmic stablecoin TerraUSD (UST) prior to its collapse.
According to case materials, the firm entered into an agreement with TerraformLabs to acquire LUNA tokens. Additionally, Tai Mo Shan purchased UST worth approximately $20 million to maintain its peg.
"This impacted the entire cryptocurrency market, ultimately depriving countless investors of their savings. Regardless of labels, market participants must comply with securities laws where applicable and not deceive the public," said SEC Chairman Gary Gensler.
According to case materials, the firm entered into an agreement with TerraformLabs to acquire LUNA tokens. Additionally, Tai Mo Shan purchased UST worth approximately $20 million to maintain its peg.
"This impacted the entire cryptocurrency market, ultimately depriving countless investors of their savings. Regardless of labels, market participants must comply with securities laws where applicable and not deceive the public," said SEC Chairman Gary Gensler.
DontFckMyBra1n:
What about drop?