LUNA Token Surges Over 15% as Do Kwon’s Terraform Labs Reaches Settlement with SEC Over $40 Billion Crypto Collapse
Terraform Labs and its founder Do Kwon have reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) following accusations of fraud and misleading investors.Both LUNA and LUNC saw their prices jump over 15$ and 10% following the news, though these gains were momentary, they were significant for two defacto deadcoins. As per Reuters , Terraform Labs and Do Kwon have reached a “settlement in principle” with the SEC after the regulator charged the firm with defrauding investors in 2023. According to the SEC’s estimates, investors lost over $40 billion combined when the collapse of TerraUSD stablecoin’s $1 peg dropped, causing Luna (now Luna Classic) to also collapse with it.As per reports, SEC filings show that the regulator is seeking to reclaim $5.3 billion in TerraUSD proceeds from Kwon and Terraform labs. The SEC is also seeking to fine Terraform Labs $420 million, as well as a further $100 million for Kwon, who argue that they should only pay $3.5 million and less than $1 million, respectively.
Following the announcement, the Terra (LUNA ) token spiked some 38% from around $0.59 to just over $0.81, the highest price the token had reached since December 2023.
Traders were seemingly eager to offload their LUNA tokens at the $0.81 mark, bringing the price back down to around $0.68. Terraform Labs’ original token Terra Classic (LUNC), also saw similar price action. LUNC climbed some 12% peaking at just over $0.00013, the highest it’s been since October 2023. The price action appears to mirror that of LUNA, with LUNC now trading sideways after shedding around half of its gains.
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$LUNA $LUNC $USTC

BREAKING NEWS : 📣📣🆘

👉DO KWON ( LUNA FOUNDER) agrees 👍 to settle FRAUD CASE WITH 🇺🇸 SEC MOSTLY BY MID-JUNE.

To pump ⬆️ THIS UPTO 5$ is just A JOKE to them I believe this.
JUST ADD & HOLD STRONG.

If you are still fading LUNA then you will be one who buy it with fomo at $10 👍

🔜 AFTER #btc back above 70K $ , u will experience huge huge 🆙 move in below 👇
Luna lunc ustc .

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$LUNA - WHERE TO BUY!? 🔴

LUNA Broke out after 2 months of consolidation

THE LEVEL TO HOLD IS 0.65... and there is a solid trade to have for continuation.

Lose this and we go below 0.5

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$LUNA looking Good
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Luna Classic Price Prediction: Price History

While past performance isn’t a guarantee of future results, understanding LUNC’s price history can help provide context for interpreting or making a Terra Classic price prediction.

We’ll focus on LUNC since May 2022, but it’s useful to highlight its earlier days.

When Terra launched in July 2019, it was valued at about $1.30. This proved to be an overestimate, and the price dropped below a dollar, remaining there until early 2021. In January 2021, the token surpassed $1 and reached a high of $22.33 on March 21.

After a decline in the following months, the price surged later in the year, hitting $103.33 on December 27.

In early 2022, what was then known as #LUNA✅ saw significant price action, reaching a record high of $119.18 on April 5. Following a crash, it plummeted to a low of $0.00001675 on May 13. On May 28, the day the new $LUNA emerged and the old one became LUNC, the coin closed at $0.00009566. When the Celsius crypto-lending platform halted withdrawals, confirming the bear market, LUNC dropped to $0.0000517 on June 18. By late August, the price climbed, closing the month at $0.0002252.

The announcement of a 1.2% tax on blockchain transactions saw #TerraClassic peak at $0.0005888 on September 8, 2022. The tax proposal passed on September 21, but LUNC’s price fell to around $0.000185 on the morning of September 26.

By midday that day, after news of South Korean authorities contacting Interpol about Kwon and Binance implementing a 1.2% burn on LUNC trades, the price surged, with #LUNC trading at around $0.00031.

On October 2, 2022, it peaked at $0.0003613, before settling to about $0.00029 on October 12. Following the collapse of the FTX #exchange , LUNC fell to a low of $0.000148 on November 22 but rebounded to $0.0001658 on November 30.

On December 1, news broke that Binance had burned more than six billion $LUNC , significantly boosting the price, and by December 2, 2022, it was worth $0.0001805.
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Terra Luna Classic (LUNC): A Quick Introduction

The Terra Classic blockchain was initially created to support the TerraUSD (UST) cryptocurrency.

The concept was that Terra’s #LUNA✅ cryptocurrency would keep UST tied to the US Dollar. When UST’s value rose above its peg, more LUNA was created, and when it fell below $1, LUNA was burned or destroyed.

This system worked well initially, with LUNA reaching a market cap in the billions and ranking among the top ten largest cryptocurrencies.

However, in May 2022, everything changed. UST lost its peg, and LUNA’s value plummeted, causing a significant downturn in the entire crypto market. It can be argued that the market has not fully recovered since.

A new blockchain was established with a new version of the $LUNA cryptocurrency, which took the LUNA name. The original blockchain, now called Terra Classic, continues to support the original cryptocurrency, now called $LUNC , and is managed by the #TerraClassic community.

It’s important to note that #DoKwon , the founder, has been arrested by United States authorities and charged with eight offenses, including securities fraud, commodities fraud, wire fraud, and conspiracy. He is also imprisoned in Montenegro for forging official documents. As of now, #kwon faces extradition from Montenegro, but it is still unclear whether it will be to the United States or South Korea.
#EarnFreeCrypto2024

The Big Bear Crash From $119 to $1: The gut-wrenching saga of Terra's LUNA crash leaves investors reeling in anguish, questioning everything !

Two years ago, the cryptocurrency world was shaken to its core as Terra's LUNA coin plummeted from a staggering $119 to a heart-wrenching $1 in a matter of days.🐳💨

😚😚The once-promising investment turned into a nightmare for countless investors, who watched helplessly as their portfolios evaporated into thin air.🤗🤗

😚😚The sudden crash sent shockwaves through the Terra ecosystem, leaving its future hanging in the balance.😳😳

😳😳As the dust settled, the community grappled with the harsh reality of financial devastation, desperately seeking answers amidst the wreckage.🤒🤒

The road to recovery seemed most probably impossible.🤗🤗

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$SHIB $0.01
$PEPE $0.009
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#LUNA✅ Stablecoin $1

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$LUNC Algorithmic Stablecoin $1 in April 2024.
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CRYPTOCURRENCIES: DO KWON, FOUNDER OF TERRA LUNA, FOUND GUILTY OF DEFRAUDING INVESTORS
In May 2022, its Terra Luna ecosystem caused investors to lose $40 billion following its collapse.
The verdict is in. Friday April 5, Do Kwon, the founder of Terra Luna and his Terraform Lab foundation, was found responsible for civil fraud by the American justice system, reports Bloomberg . This decision puts an end to a lawsuit filed by the American stock market watchdog, the SEC (Security and Exchange Commission), against Do Kwon and his empire in February 2023.
An American jury concluded that Do Kwon had misled investors, by making people believe in the reliability of their crypto company. As a reminder, in the spring of 2022, the luna cryptocurrency and the UST stablecoin of this ecosystem collapsed in a few days, causing investors to lose more than $40 billion.
“Despite all the promises of the crypto ecosystem, the lack of registration and compliance has real consequences for real people,” SEC member Gurbir Grewal said after the trial.
In December 2023, Jed Rakoff, an American judge, had already rendered a judgment according to which Do Kwon and Terra Labs were selling unregistered securities in the United States, giving weight to the SEC's
"Next steps"
This Saturday, Terraform Labs expressed its “disappointment” at the end of the trial.
“We continue to maintain that the SEC does not have the legal authority to bring this action at all, and we are carefully evaluating our options and next steps,” the company responded on X.
Currently detained in Montenegro, Do Kwon will eventually be extradited to South Korea after a battle between the country and the United States. The latter faces criminal charges in the United States and South Korea in connection with the collapse of its ecosystem.
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#LUNAUpdate is ready for$3 in some time
#LUNA✅

Spot Signal 🚦
$LUNA
Entry price
0.66/0.65
Target
0.69
0.72
0.75
0.80
0.85
0.90
#spot_trading_signal #spotsignal #spotcall #LUNA✅

#LUNA✅
الرجاء من الجميع ربط الأحزمة لونا على وشك الإقلاع ...

#LUNA✅ #LUNC✅ Check This Fluctuation And Gaining.

If LUNC Breaks The 0.00012 Resistence Then You Will See The Terra Real Face

Please update
#LUNC✅ #LUNA✅ is Delisted in Binance ?

#LUNC In 3 hours LUNC Fall Down And Break Its 6 resistances now 3 Resistances Converted Into A Big Support For Terra What Happen Next Nobody Knows But One Thing Is Confirmed That the Next Week For Only Terra Because if Lunc Have Ability To Break Its 3 Resistances In 1Hour Then Its Going To A Big Move And Wonder The World Guys Its Time To Take Entry As Now Or Never Decision

keep In Mind Guys

#bitcoinhalving #Bonk #LUNA✅

#LUNA✅
$LUNC

🚀🌕 Terra Classic's LUNC: Poised for a Stellar 66% Leap? 🌟

**Market Buzz** 📈
- Terra Classic's LUNC is showing a **double-bottom pattern**, suggesting a potential **66% bullish breakout**¹.

**Technical Indicators** 📊
- The **RSI** is rebounding, igniting interest in LUNC as it heads into the weekend¹.
- A **death cross pattern** could pose a challenge, with resistance at **$$0.000122$$**¹.

**Support Watch** 👀
- LUNC's support at **$$0.00008$$** is crucial for maintaining the bullish outlook¹.

**Price Movements** 💹
- A break above the **neckline resistance** could trigger significant price gains¹.

**Investor Insights** 💡
- Holding support at **$$0.0001$$** and overcoming the **20-day EMA resistance** at **$$0.0001085$$** are key for the weekend's trading¹.

**Emoji Summary** ✨
- 📉 Bearish market? No problem!
- 📐 Double-bottom pattern? Check!
- 🎢 Potential for a **66% ride**? Buckle up!
- 🛑 But watch out for that death cross!

Stay tuned to see if LUNC can defy gravity and soar to new heights! 🚀🌟

😉😉😉😉😉 LIKE AND FOLLOW 😉😉😉😉😉

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My liqudate is 0.67 suggest me to wait or sell if I sell then my whole year's hard work will be lost.

$ENA $ETHFI

LUNC Price Analysis: On The Cusp Of On 19% Move

As the crypto market flipped green on Friday just hours before Bitcoin halves, Terra Classic signaled a potential 19% breakout due to an ascending triangle on the four-hour chart.

The ascending triangle is a reversal pattern that allows for prices to consolidate after a major downturn in the market. Investors use this period to reaccumulate more tokens ahead of the anticipated breakout.

Traders watch out for movement above the horizontal resistance at the x-axis. In the case of LUNC, this resistance level lies at $0.000107, slightly above the 50-day Exponential Moving Average (EMA) (the line in red).

Buy orders should be placed slightly above the hurdle, with Terra Classic expected to complete at 19% move to $.0001282.
#bitcoinhalving #LUNA✅ #luncforever #LUNCRocket