Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Once Popular Coins (Graveyard) => Other Popular Cryptos / Coins => Terra LUNA Forum => Topic started by: Jaya60 on June 19, 2022, 02:24:22 AM
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The implosion of UST and LUNA vaporized tens of billions of dollars in value. Do Kwon, the "heartbroken" co-creator of Terra, headlines a raft of defendants named in a class-action suit filed Friday in U.S. District Court in Northern California.
Kwon is joined by a group that includes Terraform Labs, Jump Crypto, and Three Arrows Capital. Plaintiff Nick Patterson is alleging, among other accusations, that Terra tokens were sold as "unregistered securities," and that the "Defendants made a
series of false and misleading statements regarding the largest Terra ecosystem digital assets by market cap, UST and LUNA, in order to induce investors into purchasing these digital assets at inflated rates."more information (https://decrypt.co/103254/do-kwon-and-terraform-labs-slapped-with-class-action-suit)
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I was no longer interested in this event, I was lucky to not stick to LUNA and UST, I didn't trust the UST with its APY at all. Right now I'm focusing on hedge funds because they have a really big impact on the market, Terra and its problems will soon be forgotten by this market, law enforcement will take care of everything.
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Do Kwon didn't solve the problem that was in the terra Classic network, then the team did Fork and Did Mainnet, I think investors can see something they should see when the UST really falls, Do Kwon can't return the UST with a stable value, but only provide airdrops to users on mainnet.