The news about Terra Creator Daoquan is Announce Chinese cryptocurrency writer and blogger Kelin Wu on Twitter. About a year ago, the failure of Terraform Labs and the Terra ecosystem, backed by the LUNA token and the UST stablecoin, threw the cryptocurrency market into turmoil.
A Montenegrin court “sentenced” Kwon and his former CEO, Han Chang-Joon, to four months in prison. Both pleaded innocent in court on Friday. Earlier this year, Kwon and Han attempted to board a private flight from Montenegro to Dubai using forged passports of Costa Rican citizens. Moreover, officials in the United States and South Korea have insisted on their extradition as the pair are accused of defrauding investors in Terra before the company collapsed last year. Investor losses totaled about $60 billion.
However, Kwon refuted the allegations and claimed in court that he obtained the passport through a Singaporean travel agency. The former “Cryptocurrency King” claimed he thought it was a “golden passport” or legal document. This type of passport is obtained by people who make a substantial investment in a particular country and expedite citizenship.
Terra Classic (LUNC) Community June Price Cap
A joint L1 Task Force (L1TF) of prominent Terra Classic developers successfully completed and executed the long-awaited Parity upgrade on June 14, 2023. Notably, the Parity Upgrade project became viable due to the continued support of proposal 11561 from the Terra Classic community. Furthermore, Parity Upgrade has the full support of industry giant Binance, proving the importance of the new project.
Despite bearish forecasts for the cryptocurrency industry, Terra Classic (LUNC) surged to the top of the cryptocurrency leaderboard after a stunning seven-day rally.
However, on June 16, LUNC struggled to make a statement, making it the most prominent underperforming crypto project of the day. Holders of LUNC tokens are uncertain due to this unique downtrend detected on June 16th.
