LUNC, the resilient token emerging from the tumultuous aftermath of Terra’s downfall, witnessed a notable 14% downturn, mirroring a substantial legal setback delivered by a U.S. District Court.
This judicial decision favored the Securities and Exchange Commission (SEC) in their legal pursuit against Terraform Labs, the entity steering the Terra blockchain, injecting uncertainty into the fate of the beleaguered cryptocurrency.
Harking back to the SEC’s assertions in February, the once-mighty stablecoin, LUNA, now lies at the heart of the controversy that unfolded in May 2022. The SEC contends that LUNA transcended the classification of a digital dollar, deeming it a security.
Additional Pain For LUNC
Crucially, Terraform Labs allegedly neglected to register it as such. The gravity of the situation intensifies as Do Kwon, co-founder of Terraform Labs, faces accusations of orchestrating the sale of these unregistered securities, placing additional strain on the future trajectory of LU
We współpracy z: https://www.newsbtc.com/news/lunc-plunges-14-as-sec-scores-knockdown-blow-vs-terraform-labs/
