Following a $4.47 billion settlement with the U.S. Securities and Exchange Commission, Terraform Labs will cease operations and transfer control of the ecosystem to the community. Derek shared a picture of the post made by Chris Amani, CEO of Terraform Labs, who announced the next steps on X.

Read Also: Top Terra Classic Proponent Keeps His Focus On LUNC at $0.03. Here’s why

A Potential Silver Lining

Derek points to the burning of all unvested Luna tokens held by Terraform Labs as a potential catalyst for LUNC’s growth. LUNC works with a deflationary model where the community uses token burns to reduce the overall supply of LUNC, potentially leading to increased scarcity and, theoretically, a higher price per token.

However, Derek acknowledges the negative aspects of the situation. He mentions the recent lawsuit loss by Terraform Labs, which adds uncertainty to the project’s future. Although early news of the settlement caused a small price surge, the positive sentiment has soured. This loss could potentially deter investors from entering the LUNC market.

Despite the lawsuit, Derek argues that the combined effect of the Terraform Labs shutdown and token burning could outweigh the negative sentiment. He emphasizes the potential for “investor inflow” into LUNC, suggesting that users who previously held LUNA with Terraform Labs might migrate to LUNC.

Derek predicts a scenario of rapid price volatility for LUNC, with the potential for significant price increases. He suggests that a decision by major cryptocurrency exchanges, such as Binance, regarding the future of Luna 2.0 could significantly impact LUNC’s price movement.

If former LUNA holders turn to LUNC as Derek expects, the investor inflow combined with the massive token burn could significantly benefit LUNC. These events would cause the demand for the remaining tokens to increase, driving up the price.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Analyst States Why Terra Classic (LUNC) Needs To Hold Above 200 Moving Average (MA) 

Is LUNC Going Up?

It’s important to note that cryptocurrency markets are complex and influenced by various factors beyond supply and demand. Regulatory decisions, market sentiment, and broader economic conditions can all initiate price fluctuations.

While Derek’s prediction of a rapid price rise for LUNC is optimistic, investors must conduct thorough research and due diligence before making investment decisions. However, after a prolonged battle with low prices, this event, though it’s negative on the surface, could benefit LUNC in the long term. Analysts have predicted huge rallies, and this could help LUNC achieve them.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Times Tabloid is not responsible for any financial losses.

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The post Pundit Highlights How Terraform Labs Shutdown Would Boost LUNC Growth appeared first on Times Tabloid.

This sudden move has sent shockwaves through the crypto market, causing LUNA and LUNC to experience a significant decline. Beyond the immediate impact on prices, this bankruptcy raises crucial questions about the future of Terraform Labs and its associated tokens.

Read Also: Google Bard Chooses Best Investment Option Between LUNC and LUNA for 2024

From Stablecoin Savior to Bankruptcy

Terra’s journey began with bold ambitions, creating a decentralized financial ecosystem powered by the algorithmic stablecoin, TerraUSD (UST). However, the crash of UST in 2022 shattered these dreams, exposing the vulnerabilities of the ecosystem and leaving investors with heavy losses.

This unfortunate turn of events, coupled with ongoing legal battles, including a fraud indictment against Do Kwon and a lawsuit from the SEC, has ultimately led to the current bankruptcy filing.

While the bankruptcy filing states the company’s financial instability, with assets and liabilities ranging from $100 million to $500 million, there is a deeper story to uncover. The figurehead of Terraform Labs, Kwon, who holds a majority stake of 92%, looms large over the company’s prospects. His legal troubles, including fraud charges and the SEC lawsuit, cast a dark shadow over Terra’s ability to bounce back.

In the face of adversity, Terraform Labs’ CEO, Chris Amani, presents the bankruptcy filing as a strategic maneuver to navigate legal complexities and forge ahead with the company’s goals.

Do Kwon and his brainchild now face a daunting legal battle. The SEC’s fraud charges and the ongoing lawsuit paint a grim picture. Although a recent ruling dismissed some charges, the upcoming jury trial on fraud remains a major obstacle. While the bankruptcy filing may offer temporary respite, the road ahead will be long and challenging.

The Aftermath

The market responded swiftly and predictably to the news. LUNA and LUNC, which are directly linked to the downfall of UST, experienced immediate price drops, reflecting investor worries about the future of Terraform Labs.

This decline serves as a stark reminder of the interconnected nature of the crypto ecosystem, where the struggles of one project can reverberate across the entire market.

Terraform Labs’ decision to file for Chapter 11 bankruptcy is a complex one, open to different interpretations. Some view it as a strategic maneuver to shield the company from legal liabilities and buy time to reorganize its operations. Others perceive it as a desperate attempt to salvage what remains of a once-mighty empire.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Read Also: Binance Set To Delist 23 Token Pairs, Including ADA, XLM, SHIB, LUNA, LUNC. Here’s why

Beyond Bankruptcy

While Terraform Labs seeks legal protection, the ghost of UST continues to haunt the crypto world. Regulatory scrutiny has intensified, with calls for stricter oversight of stablecoins and algorithmic mechanisms. The UST crash served as a harsh wake-up call, exposing vulnerabilities and raising concerns about the potential systemic risks associated with certain crypto projects.

The Terraform Labs bankruptcy saga is far from over. Legal battles will unfold, and market repercussions will persist. This has made the future of UST look more uncertain. This event serves as a stark reminder for investors to exercise caution and conduct thorough due diligence before venturing into the volatile realm of crypto.

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The post Terraform Labs’ Bankruptcy Filing Shakes LUNA and LUNC to the Root appeared first on Times Tabloid.

A fresh report showed that the Gary Gensler-led SEC filed a lawsuit against Do Kwon and TFL on Thursday over the failure of UST — now represented as USTC — in May 2022. This adds to the list of different individual and class action lawsuits slammed against the on-the-run CEO, Do Kwon. 

Particularly, the securities watchdog charges the above-mentioned defendants because they disobeyed the registration and anti-fraud provisions of the Securities Act and the Exchange Act. The SEC filed the crypto lawsuit in the U.S. District Court for the Southern District of New York

The SEC contends that the Singapore-based blockchain company and its CEO orchestrated a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin (UST) and other crypto asset securities. 

SEC Chair Gary Gensler said, “We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for LUNA and Terra USD,” said SEC Chair Gary Gensler. “We also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors.”

Per the update, the financial regulator which recently fined Kraken $30 million for offering an unregistered security staking program added that “Terraform and Kwon raised billions of dollars from investors by offering and selling an inter-connected suite of crypto asset securities, many in unregistered transactions.” 

Notably, this lawsuit comes nine months after TerraClassicUSD (USTC), formerly known as TerraUSD (UST) depegged and lost parity with a dollar due to an error in project management and many other unclear factors. 

The dramatic collapse of this supposed stablecoin led to the massive plunging of its sister token LUNA (now called LUNC). Roughly $40 billion was lost in the immediate Terra ecosystem whereas the incident wiped out about 60 billion dollars from the broader crypto market.

The present woes of Celsius Network, Voyager Digital, and Three Arrows Capital (3AC) were caused by the depegging of UST. Hopefully, the SEC is able to get justice for the many victims of the Terra ecosystem meltdown.

LUNC is yet to recover from the historic crash it recorded. But the project which is now community-led is slowly revitalizing as many notable developments surround it including the Terra Classic token burning initiative to reduce the asset’s total supply to 10 billion and staking to increase token scarcity.

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The post SEC Sues Do Kwon and Terraform Labs Over TerraUSD (UST) Stablecoin Collapse appeared first on Times Tabloid.

Do Kwon, the founder of CEO of the firm expected the close down of the old chain in order to concentrate fully on the new chain (now recognized as Terra), but a number of other community members showed their beliefs in the revival of Terra Classic (LUNC). They believed that the cryptocurrency can be revived through a vigorous and continuous burning process.

Read Also: Binance Announces Support for Network Upgrade to Stop Terra Classic (LUNC) Reminting

The two cryptocurrencies are operating differently because they are not of the same chain. But some members are presently clamoring for a possible merge of the two chains. However, the recent response from a staff of Terraform Labs confirmed that it’s impossible for the two blockchains to merge in the future.

According to a recent report from @CowboyCryptonaire, a pseudonymous member of the Terra Classic community, @Jared_TFL of Terraform Labs said COSMOS chains cannot be merged, so there is no possibility for LUNC and LUNA to merge anytime in the future.

He also reported @DemonMonkey777 saying that “it’s not really feasible, LUNC and LUNA are sister chains and they shouldn’t be merged”

Read Also: Terra Classic (LUNC) To Be Supported on TerraForm Labs Interchain Station

In response to the report on Twitter, @Jared_TFL reiterated his stance on the chance of getting LUNA and LUNC together on the same chain.

@Jared_TFL tweeted, “Yeah, it’s really about what you mean by “merge” They are sovereign chains. You can’t change that factor. If you mean you would like developers to work together, that is happening. That is feasible.”

Yeah, it’s really about what you mean by “merge”
They are sovereign chains. You can’t change that factor.

If you mean you would like developers to work together, that is happening. That is feasible.

— Jared_TFL (@Jared_TFL) January 13, 2023

Remarkably, discussions in relation to the merge of the two networks were trending on Twitter yesterday, surpassing 15,000 tweets, according to Asobs, a crypto content creator.

The #LUNC community is really talking up the $LUNC & $LUNA merge.

What does a merge mean to you?

The dev teams merging?

The communities merging? pic.twitter.com/pss0FUt2pa

— Asobs (@Asobs_CNG) January 13, 2023

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The post Terraform Labs Says Terra Classic (LUNC) and Terra (LUNA) Cannot Merge. Here’s why appeared first on Times Tabloid.

Jared of TFL noted specifically that LUNC along with Osmosis, Juno, SEI, Carbon, and a bonus chain has been integrated into the Station repo. The developer added that Interchain support for Terra Classic will be launched on December 12. 

He wrote on Tuesday, “integrating today into Station repo: Lunc, Osmosis, Juno, SEI, Carbon plus a bonus chain, which will be announced later this week. We are launching interchain support roughly 48hrs from this tweet. After this initial launch, chain integrations will be on a rolling basis.”

We are launching interchain support roughly 48hrs from this tweet.
After this initial launch, chain integrations will be on a rolling basis.

— Jared_TFL (@Jared_TFL) January 10, 2023

Read Also: Top LUNC Dev Submits Proposal for No Canonical Repo on Terra Classic

This compatibility update between LUNC and the impending Interchain Station has sparked much interest from the Terra Classic community. This is so because Jared said earlier that Terra Classic will not be compatible with the Interchain Station except the project modifies its prefix. 

The TFL developer further encouraged the Terra Classic community to strive to attain independence from TerraForm Labs’ infrastructure, highlighting the associated advantages and benefits to LUNC. More so, Jared added that the TFL is willing to exit direct support for the Terra Classic chain when it becomes fully independent of TFL’s infrastructure. 

So this update from the liaison man between TFL and the LUNC community comes at a time when the Terra Classic developer group, Terra Rebels, abandoned TFL’s infrastructure to develop an independent LUNC wallet dubbed Rebel Station. 

To build Rebel Station, the independent LUNC dev group Terra Rebels submitted a controversial proposal that passed and they eventually received a funding sum of $150,000. 

Read Also: LUNC Dev Group Raises $1 Million Funding For DeFi Project That Includes Terra Classic DEX

The last update regarding Rebel Station from the TR group was on December 20. Since no further updates have been received from the group, coupled with the perceived misappropriation of the allocated funds, LUNC community members demanded a refund of the $150,000 from Terra Rebels, which has not been done. More so, the TR scam allegations negatively impacted Binance’s LUNC burn support.

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The post Terra Classic (LUNC) To Be Supported on TerraForm Labs Interchain Station appeared first on Times Tabloid.

On the 9th of January, the plaintiff gave notice of voluntary dismissal of the case “without prejudice and without costs against the defendant(s) Delphi Digital Consulting, LLC, Do Kwon, Jose Macedo, Jump Trading, LLC, Kanav Kariya, Luna Foundation Guard, Ltd., Nicholas Platias, Remi Tetot, Terraform Labs, Pte. Ltd…”

Read Also: 1.2% Tax Burn to be Implemented As StarShip Accepts Terra Classic (LUNC) as Payment Method

Recall that the lawsuit filed in August 2022 accused Do Kwon and others of violating the Racketeer Influenced and Corrupt Organizations Act by inflating the price of UST and publicizing false information to mislead the public over the allegation of money laundering, worth $80 million.

The report reads in part:

“Defendants touted the stability of the coins and guaranteed 20% annual returns on coins deposited in Terraform Labs’ high-yield savings application on the Terra blockchain — the Anchor Protocol.”

Read Also: Top LUNC Dev Submits Proposal for No Canonical Repo on Terra Classic

A Terraform Labs Spokesperson, who commented on the new development via an email recently sent to TimesTabloid, said:

“In another victory for Terraform Labs, the plaintiff in Albright v. Terraform Labs voluntarily dismissed the case after it was demonstrated that he had sustained no injury. From the moment the Terra ecosystem was attacked and UST depegged, TFL has been adamant that neither the company nor its principles committed any wrongdoing.

“Since then, South Korean prosecutors had nine of their nine detention warrants rejected by the courts, the LFG report was released and demonstrated the above and-beyond efforts by LFG and TFL to defend the UST peg, an explanation emerged for the attack itself, and now this case has been voluntarily dismissed.  The intervening months have confirmed that the facts are on our side, and more are and will continue to come to light.”

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The post Plaintiff Voluntarily Dismisses Lawsuit against Do Kwon and Terraform Labs: Details appeared first on Times Tabloid.

The Terra Classic community is currently depending on the TFL for full functionality. Meanwhile, the TFL team disclosed that LUNC would not be supported in their upcoming Interchain Station. On these grounds, the top TFL staff has given the Terra Classic community reasons to pursue independence. 

Jared said, “there are major benefits to the classic community for becoming independent from TFL in infra, user Ul, and tooling.” In his words, when the Terra Classic community finally develops a robust infrastructure, and there is parity of product features, the TFL would exit direct support for the embattled blockchain. The TFL team is not the best people to develop features for the Terra Classic community, he also remarked.

Per the update shared by the pseudonymous LUNC validator Classy Crypto, Jared also outlined the immediate issues facing LUNC on Terra Station. He also stated the long-term problems Terra Classic users would experience on the planned new LUNA 2.0 wallet named Interchain Station. 

TFL announces a MAJOR update on $LUNC's Terra Station & where it's headed.

RT | To SHARE!

"There are major benefits to the classic community for becoming independent from TFL in infra, user UI, and tooling." –@Jared_TFL pic.twitter.com/PDAJTyMJSL

— Classy (@ClassyCrypto_) December 9, 2022

Read Also: Do Kwon’s TFL Affirms Terra Station Support For LUNC But Terra Rebels Guns For Independence

According to the TFL staff, “Terra Classic infrastructure is unstable following core version 1.0.4. Allnodes provides a backup infrastructure, but it does not support all station functions. When only some functions are available, it is likely we are using Allnodes temporarily.” 

As indicated by Jared, Terra Station has some issues regarding LUNC staking and rewards withdrawal. To this end, the independent developer teams Terra Rebels, Allnodes, and TerracVita are all working on their distinct infrastructure solutions to halt the intermittent problems relating to staking and withdrawals. “We [TFL] are sharing information with these teams as transparently and quickly as possible,” Jared noted. 

Recall that the TFL team is developing a new wallet dubbed Interchain Station which would co-exist with the legacy version Terra Station. As confirmed by Jared, Terra Classic will not be supported on the Interchain Station. Instead, the TFL plans to provide a clone of the Terra Station which LUNC users can continue to use. 

In stating why the new TFL wallet would not support LUNC, Jared wrote, “Interchain Station in its current form requires all chains to have a unique bech32 address. Phoenix and Columbus (Terra, and Terra Classic) share the same address. This means Interchain Station will lose funds when routing IBC transfers if we include both chains.”

“Changing the bech32 address has not been attempted before in Cosmos, and comes with its own risks. As classic developers work on solutions for bech32, we are working on routing solutions for IBC. This issue isn’t dead, but there is no solution at the moment,” he added. 

Read Also: Terra Classic (LUNC) To Hit $0.001, Popular Crypto Influencer Forecasts 

Owing to this, Terra Rebels, the team working toward the revitalization of Terra Classic abandoned TFL’s Terra Station and began the development of a separate wallet for LUNC as they pursue independence.

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The post Terra Classic (LUNC) Independence Would Come with Major Benefits, Terraform Labs Staff Says appeared first on Times Tabloid.

Consequently, the independent group working on LUNC’s revitalization, TR, is on the course of developing a Terra Station clone dubbed Rebel Station. The anticipated Rebel Station will be fully controlled by the Terra Classic community, with no reliance on Do Kwon’s development team, TFL. 

Classy Crypto, a pseudonymous crypto influencer and node validator on the Terra Classic network made this development known on Wednesday via a tweet. Classy shared a screenshot of a discussion in the Terra Rebels (TR) Discord channel, where ClanMudHorn, the group’s admin, stated that Terra Rebels will no longer support Terra Station. 

ClanMudHorn added that TerraCVita (TCV), another independent group working towards the growth of LUNC is the new custodian of Terra Station. In his words, “Terra Station is appearing to still have some issues. Please redirect all TR issues to TCV as they are its new custodian.”

Furthermore, Classy Crypto stressed that handling of the LCD endpoints for Terra Station will now be done by TerraCVita citing that “TR will be supporting their station “Rebel Station” with their LCD clusters.”

.@TerraRebels announcing they will NOT be supporting Terra Station anymore. @TerracVita will be handling the LCD endpoints for Terra Station.

TR will be supporting their own station "Rebel Station" with their LCD clusters. pic.twitter.com/geIxGhm6AV

— Classy (@ClassyCrypto_) December 6, 2022

Read Also: Terra Classic (LUNC) To Hit $0.001, Popular Crypto Influencer Forecasts

Rebel Station Set To Be Onboarded

Rexx, an administrator and marketing representative of Terra Rebels corroborated the interesting update shared by Classy. “Terra Rebels will no longer be updating Terra Station moving forward,” he wrote. According to him, the Rebel Station building is underway and the application links are available on TR’s website. 

Rebel Station links are available on our website. https://t.co/uu5YHZPBVf pic.twitter.com/kRIByl5YCG

— reXx (@reXxTerraRebels) December 7, 2022

The development of the independent LUNC wallet – Rebel Station – was fast-tracked given the TFL’s plan to cease support for Terra Classic on its new wallet. As earlier reported, the Luna 2.0 dev team disclosed their plans to build a new wallet labeled Interchain Station that will exist alongside the legacy version – Terra Station.

While LUNC will still be supported on Terra Station, Jared, a top TFL member said Terra Classic will not be supported on the new version – Interchain Station unless the project’s prefix is changed. This gave rise to the ongoing development of the Rebel Station, a wallet application designed to be fully powered by the LUNC community. 

Read Also: Terra Classic Developers Launch LUNC Wallet to Reduce Dependence on Terra Station and TFL

Reacting to this, Edward Kim, another top contributor in the LUNC ecosystem whose Terra Classic Grant proposal passed, gave a few clarifications on the Terra Classic chain upgrade, station, and LCD/FCD endpoints. 

He wrote, “TFL is developing a new station wallet that can be interoperable with the classic chain, given technical upgrades.  At this time, we do not meet the criteria and are working to see what is feasible.  What other 3rd party entities do, or do not do, are out of our control.”

“Terra Rebels has a Terra Station clone.  An independent wallet and community endpoint for the classic chain was always necessary, even if it were just to be redundant.  The current events demonstrated this need.  Thank you, TR for making this available,” he added.

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The post Terra Classic Devs Abandon Do Kwon’s Terra Station to Launch LUNC Wallet for Full Independence appeared first on Times Tabloid.

As disclosed by the pseudonymous validator on the Terra Classic network, Classy Crypto, Do Kwon who abandoned LUNC to launch Terra 2.0 (LUNA) in May has set out to contribute toward the revitalization of the LUNC project. 

Particularly, the Terra founder who had earlier integrated Terra Classic into the official wallet of Terra, affirmed that Terra Station would perpetually support the LUNC community. Do Kwon also noted that the TFL would accommodate Terra Classic in future partnerships secured for LUNA. 

“We’ll maintain Terra Station for the $LUNC community as long as it takes. We’re comfortable doing it for the foreseeable future. We’re happy to include the $LUNC community in many future $LUNA collaborations,” Do Kwon asserted in a recent AMA session per Classy Crypto’s tweets.  

“We’ll maintain Terra Station for the $LUNC community as long as it takes. We’re comfortable doing it for the foreseeable future.” –@stablekwon on his latest AMA

— Classy (@ClassyCrypto_) November 22, 2022

Read Also: Terra Classic to Soon Become Fully Cosmos Interoperable As New Upgrade Is Slated For December

The TFL’s decision to include the LUNC in future LUNA collaborations is believed to be quite timely and significant for the Terra Classic community. Currently, the Terra Classic team is on course to launch the v23 network upgrade. This upgrade planned for December 2022, aims to make Terra Classic compatible with decentralized applications on the Terra (LUNA) chain. 

In highlighting the significance of the v23 upgrade, LUNC DAO, the fourth-largest validator on the Terra Classic network stated that achieving a technological parity between LUNC and LUNA, will allow Dapps on the LUNA chain to deploy easily on the LUNC network. 

Consequently, this would lead to increased on-chain activity on the Terra Classic network. LUNC DAO further wrote, “LUNA is the hope for the heartbroken community to rebuild.”

16/ Fundamentally, I believed:

A) That $LUNC had tremendous value + was woefully undervalued at <$200M MCap. This was true. The exact valuation now depends on factors like Terra Rebels ability to organize themselves

B) $LUNA is the hope for the heartbroken community to rebuild

— 🅻🆄🅽🅲 🅳 (@LUNCDAO) October 23, 2022

Related: Do Kwon Agrees to Suggestion of a Mutual Alliance between LUNC and LUNA: Details

It is worth noting that Do Kwon has demonstrated support for the Terra Classic community in several instances. As earlier reported by TimesTabloid, the Terra founder told Alex Forshaw, a top LUNC community member about an Ethereum multisig wallet, containing non-Terra assets worth about $4.16 million then.

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Per a podcast clip shared by the BTC Archive Twitter handle on Wednesday, Martin Shkreli teased Do Kwon regarding the May Terra collapse, which resulted in at least $60 billion being wiped out from the crypto industry plus many other damaging developments. 

Martin Shkreli said to Kwon, “I just want to let you know, jail is not that bad. It’s not the worst place; it’s not the worst thing that can happen so, don’t fret. I hope it doesn’t happen but if it does happen, it’s not that bad.” In response, the TerraForm Labs CEO said, “good to know” while laughing at the joke alongside the co-podcasters. 

Martin Shkreli tells Do Kwon "Jail is not that bad"

today has been WILD!
pic.twitter.com/xDEkKnscxg

— Bitcoin Archive (@BTC_Archive) November 8, 2022

Of course, this joke saw a lot of furious responses from the crypto community, especially investors who lost their funds due to the USTC de-pegging and the LUNC fall incident. Among those who commented were John Deaton and Antoine Stan.

Stan wrote, “Making jokes when people lost a lot of their savings is pretty immature and just nasty.  I find people like this embarrassing tbh.”

Read Also: Attorney John Deaton Explains Why LBRY Case Outcome Should Not Be Expected for XRP Lawsuit

John Deaton Attacks Do Kwon

Reacting to Do Kwon’s reply, John Deaton slammed the Terra founder, who is reportedly said to be on the run or in hiding to avoid arrest warrants from Interpol and the South Korean crime authorities. 

The staunch Ripple/XRP proponent and the attorney representing over 75,000 XRP holders in the lingering XRP lawsuit, labeled Do Kwon a “clown” and remorseless for joking about the loss-inflicting and unfortunate occurrence. Notably, the XRP lawsuit involves the United States Securities and Exchange Commission (SEC) and Ripple, the San Francisco-based crypto solutions company and leading cross-border payments firm.

Deaton wrote in a comment, “This clown laughs about jail while people got wiped out. Anyone that thinks he has true remorse is a fool.” 

This clown laughs about jail while people got wiped out. Anyone that thinks he has true remorse is a fool. https://t.co/uv6wpiLXk4

— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) November 9, 2022

Read Also: Do Kwon Suggests Ways to Make Terra (LUNA) Bloom Again

It’s worth noting that the Terra downfall that took place in May 2022 is among the greatest disasters in the history of cryptocurrency. While several individual investors suffered huge liquidations, some resorted to suicide. Many crypto companies like the once-thriving lending platform, Celsius Network, and crypto hedge fund, Three Arrows Capital (3AC) went out of business because of the USTC and LUNC price dump.

Do Kwon, whose whereabouts remain hidden stated recently that the Terra case is highly politicized, mentioning that he will stage a mild meetup or conference to debunk the claims that he is on the run.

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The post Do Kwon Laughs Off Jail Term for Terra Collapse, John Deaton Lashes Out Saying He is Remorseless appeared first on Times Tabloid.