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Terra vs SEC : Terraform Labs Presents Closing Arguments in Civil Fraud Trial Amidst Allegations of Investor Deception The trial against Terraform Labs and its founder #DoKwon , led by the U.S. Securities and Exchange Commission, nears conclusion with closing arguments underway. The SEC accuses them of wire fraud and misleading #investors with TerraUSD, alleging deliberate destabilization of the stablecoin and false claims about integration into a Korean payment app. Defense argues innocence, claiming SEC's case lacks strong evidence and relies on unreliable witnesses. #kwon , facing extradition requests, is under house detention due to prior arrest in Montenegro. The collapse of TerraUSD and Luna led to significant investor losses, estimated by the SEC at over $40 billion, impacting the broader cryptocurrency market and prompting #bankruptcy filings in 2022. #Memecoins
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Can Ethena Backing USDe With Bitcoin Crash Market Like Terra-LUNA? Experts, including CryptoQuant's #Ceo , warn about Ethena's plan to back its USDe synthetic dollar with Bitcoin, fearing it could lead to a market crash akin to the Terra-$LUNA crisis. They highlight concerns about maintaining stability, particularly in bear markets, and question the viability of Ethena's strategies. Ethena #labs aims to scale USDe using Bitcoin, but critics caution against its untested nature and potential negative market impact. The controversy has led to a 9% drop in Ethena's price. #Nonfarm #BinanceLaunchpool #BullorBear
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South Korean Authorities Raid Terra Co-Founder’s Home #SouthKorean prosecutors raided the home of Daniel Shin, co-founder of Terraform Labs, as part of an investigation into illegal activity linked to the collapse of the #TerraUSD stablecoin. Several raids on crypto exchanges and offices were conducted, including Shin’s payment app Chai Corp. Prosecutors executed search and seizure operations in 15 firms, including seven crypto exchanges, gathering data related to TerraUSD and Terra transactions. Approximately 200,000 Korean #investors incurred losses due to the severe price devaluation and collapse of the tokens in May. #Nonfarm #BinanceLaunchpool
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Expert Eyes 100x Milestone for Rebel Satoshi ($RBLZ) as It’s Poised To Outpace ARB and LUNC Experts anticipate Rebel Satoshi ($RBLZ) to surge 100x post-exchange #listing , potentially surpassing competitors like #ARBİTRUM (ARB) and Terra Classic (#LUNC🔥 ). The ARB team partners with Azuki to enhance the Weeb3 anime experience, while LUNC showcases strong price performance. Rebel Satoshi, embodying defiance against centralized finance, gains momentum with increasing demand, prompting experts to dub it the top crypto investment. Arbitrum's collaboration with Azuki aims to attract anime enthusiasts, with a $344 million investment in GameFi projects. Despite a modest price increase, $ARB is expected to rise to $1.75. #TerraClassic 's ($LUNC ) founder's release coincides with a 25.9% price increase, leading experts to predict a further 6.25% uptick to $0.000170. #Nonfarm
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Terra Luna Price Prediction: The Project Built On Shaky Ground? The rise and fall of Terra Luna resemble a pine tree in sand: growing rapidly but with shallow roots, vulnerable to storms. Initially hailed for its innovative stablecoin concept, Terra Luna's catastrophic collapse in 2022 erased billions from the market, leading to a community-led reboot. Now, trading at $US1.21 after a tumultuous journey, its future is uncertain. Despite recent gains, Terra Luna's outlook remains bleak. While market surges may temporarily boost its value, inherent weaknesses and competition from more established projects like Ethereum pose significant challenges. Ethereum's scalability improvements and the vibrant #ECOSYSTEM s of other alternative blockchains further dampen Terra Luna's prospects. Investing in #terraluna requires careful consideration. While short-term gains are possible in a bullish market, its long-term viability hinges on its ability to compete against stronger competitors and build a robust ecosystem. #BinanceLaunchpool #Memecoins #Nonfarm
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