Terra Coins Rise From the Ashes: $LUNA Up 15%, $LUNC Up 8% After Do Kwon Settles with SEC!

Terra's back in the news, and this time, it's for a (somewhat) positive reason! Following news of a tentative settlement between Terraform Labs and the SEC, both LUNA and LUNC, the cryptocurrencies associated with the Terra ecosystem, have seen significant price increases.

Here's the breakdown: 💻👇

(1) LUNA (rebooted Terra): Up a whopping 15% in the past 24 hours, currently trading around $0.6814.

(2) LUNC (Terra Luna Classic): Gained 8% in the last day, sitting at roughly $0.00012.

So, what's the deal with the settlement?

The details are still under wraps, but the SEC was previously looking for financial penalties and industry bans for Do Kwon and Terraform Labs. This settlement seems to be a step towards resolving the civil lawsuit related to the TerraUSD and LUNA crash in May 2022, which caused billions in losses.

Hold on, there's more to the story!

While the SEC case might be cooling down, Do Kwon's legal troubles are far from over. He's still facing criminal charges from the US Department of Justice and South Korea, including accusations of fraud, bribery, and market manipulation.

Extradition drama: Who gets Do Kwon?

Do Kwon's arrest in Montenegro on fake passport charges threw another curveball. Now, the US and South Korea are locked in a battle to extradite him, with Montenegro's courts making things interesting by flipping back and forth on the requests.

The takeaway? 🤐

Terra's showing signs of life again with these price increases, but the future remains uncertain. Keep an eye out for developments in Do Kwon's legal battles and the ongoing extradition saga! DYOR!! #altcoins #LUNA