Luna

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in prison by a New York court after pleading guilty. The sentence follows the catastrophic collapse of the Terra-Luna ecosystem, which wiped out billions of dollars from the crypto market and continues to influence regulatory approaches to stablecoins.

Terra (LUNA), the token at the center of the 2022 market crash, has unexpectedly surged nearly 180% this week. The price jump appears to be driven by speculation ahead of founder Do Kwon’s sentencing verdict.

A US judge is delaying the sentencing of Terra founder Do Kwon, seeking clarity on his potential prison term in South Korea. The judge wants guarantees that Kwon will serve his full US sentence, even if extradited, and has raised questions about victim compensation.

Terra (LUNA) and Terra Luna Classic (LUNC) have seen massive gains of over 120% this week, driven by a network upgrade and token burns. Dutch investors are notably active, with LUNC becoming a top-traded asset on local exchanges.

Terra Classic (LUNC) and Terra 2.0 (LUNA) tokens posted significant gains, ranking among top performers, even as U.S. prosecutors recommended a 12-year prison sentence for Terra founder Do Kwon for his role in the ecosystem’s collapse.