Will LUNA have a future again following Do Kwon’s settlement with the SEC?

Recent news reports that Singapore-based Terraform Labs and founder Do Kwon have reached a preliminary settlement with the US Securities and Exchange Commission (SEC), which sued them for allegedly misleading crypto investors before the collapse of stablecoin TerraUSD in 2022.

Terra coins rise after settlement news

Cryptocoins associated with the Terra ecosystem, LUNA and LUNC, have seen a surge following news of the possible settlement. The market appears to be responding positively to this development, reinforcing expectations for the restoration of confidence in the project.

Settlement details

While the exact terms of the settlement have not yet been revealed, it is expected to have a significant impact on the future of Terra and its leaders. The case revolves around allegations of fraud regarding the stability of TerraUSD and the LUNA token, which resulted in huge losses for investors.

Legal battle continues

Although this possible settlement is a step in the right direction, Do Kwon still faces other legal challenges, including criminal charges in the United States and South Korea. The outcome of this legal battle will influence the further course of Terra and its role in the crypto industry.