Terraform Labs Faces SEC in High Stakes Trial: Judge Issues Jury Instructions
In a courtroom dispute between the US Securities and Exchange Commission and Terraform#labs, Judge Rakoff criticized both sides for going off topic. The SEC accused Terraform Labs and its founder, Do Kwon, of violating securities laws by engaging in fraudulent activities related to Terraform securities. This included misleading investors about Chai Corp's involvement with TFL technology and misrepresenting the stability of the UST stablecoin. The trial began with Terraform Labs' defense against the charges, while #dokwon remains absent pending an extradition decision. The potential impact of the trial on Terra Lab tokens, #LUNA and #LUNC🔥 , remains uncertain. Although the recent upgrade increased the price of $LUNA, concerns about the test results remain.#LUNC🔥 the price fluctuated, influenced by factors such as token burns and increased demand. Currently,#LUNCis valued at $0.000161, with a market cap of $939.80.
