The Constitutional Court of Montenegro has rejected the extradition appeal of Do Kwon, co-founder of Terraform Labs, thus officially upholding the ruling to extradite him to the United States and South Korea. This decision marks a significant legal defeat for Kwon, who faces multiple charges of financial fraud related to the collapse of the Terra Luna empire, which caused more than $40 billion in losses in 2022.

In May 2022, the cryptocurrency market witnessed one of its most devastating events—the dramatic fall of LUNA Classic (formerly Terra LUNA) from a peak value of over $119 to an unimaginable low of $0.00001. This catastrophic collapse, marked by a series of interlinked failures, remains a stark reminder of the risks associated with algorithmic stablecoins and flawed economic frameworks.

The Fall of USTand the Chain Reaction
At the heart of the crisis was UST, an algorithmic stablecoin engineered to maintain parity with the US dollar. Its stability relied on a mint-and-burn mechanism tied to LUNA. However, in May 2022, UST began losing its $1 peg due to large-scale withdrawals and suspected market manipulation. To restore the peg, the system generated massive amounts of LUNA, flooding the market with an unprecedented supply. This hyperinflation caused LUNA's value to plummet, transforming what was once a thriving ecosystem into a disaster zone.

Panic, Loss of Trust, and Exploitation
As LUNA's value spiraled downward, panic ensued among investors, triggering a wave of sell-offs. The resulting instability not only amplified fears but also led to a liquidity crisis, as confidence in the algorithmic stablecoin model shattered. Speculation suggests that the collapse was exacerbated by coordinated attacks from major players who shorted LUNA while exploiting the depegging of UST for financial gain.

Aftermath and Lessons Learned
The fallout from this event was severe. The original Terra blockchain was rebranded, giving rise to $LUNA A Classic (LUNC), while a new network launched under the name $LUNA 2.0. Despite these efforts, the ecosystem has struggled to rebuild investor confidence. The $LUNA A collapse serves as a powerful lesson for the crypto industry, underscoring the vulnerabilities of algorithmic stablecoins and the dangers of flawed economic systems. It is a stark reminder of the need for robust models and investor caution in this volatile
landscape.
#LUNA #ChristmasMarketAnalysis #BTCNextMove #ElSalvadorBTCReserve

The capital layout behind the film (CryptoMan)
#Luna The impact of the incident is profound; however, less than two years later, the incident was adapted into a film and brought to the big screen, and the level of attention it received is imaginable! The year 2024 coincides with the Bitcoin halving, and Wall Street capital is entering the crypto sphere, making this bull market known as the institutional bull. At such a time point, the launch of this highly anticipated film by Korean capital inevitably raises speculation about whether it is a meticulously planned layout by the capital in advance.

According to publicly available information, the film (CryptoMan) is invested and produced by K-Play Contents, and its founder Christosa is not only the representative of K-Play but also serves as the initiator and chief economic advisor of the platform, dedicated to accelerating the transformation of a fairer and more transparent global metaverse application platform, and building the world's largest smart democratic application ecosystem.

LUNA, the cryptocurrency of the Terra network, has seen a significant drop but is showing signs of recovery with the launch of LUNA 2.0. Now, many investors are wondering: how much will LUNA be worth by 2030 and how to invest wisely in this asset? 🌟 Let’s explore LUNA’s value expectations and simulate a monthly investment of $50 until 2030. 💸

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1. LUNA Growth Expectation until 2030 📈

LUNA has been on a recovery path since the crash caused by the collapse of TerraUSD (UST), but the restructuring and new partnerships are giving hope for the future. 💪

Alliance DAO partners recently expressed concerns in a podcast about potential risks to Bitcoin’s price over the next four years, especially if it falls below $58,000.
This figure is believed to be close to the liquidation threshold for MicroStrategy, the publicly traded company that owns one of the largest Bitcoin reserves.
MicroStrategy, led by Michael Saylor, has accumulated over 150,000 BTC, representing about 3% of the total Bitcoin supply. According to the podcast, Saylor’s average Bitcoin purchase price is estimated to be $58,000. If Bitcoin falls below this level, the company could face significant liquidation risks.
Podcast participants speculated that such an event could potentially lead to a financial crisis “100 times larger” than the collapses of Terra Luna and FTX, both of which sent shockwaves through the cryptocurrency market.
On the bright side, the podcast also outlined a rather optimistic scenario where Bitcoin rises to $500,000. Such a price increase would not only validate MicroStrategy’s bold strategy, but it could also make Michael Saylor the richest person in history. A Bitcoin price of $500,000, combined with MicroStrategy’s Bitcoin holdings, could make Saylor the first trillionaire in human history.
Michael Saylor has been a strong advocate of Bitcoin, often describing it as “digital gold” and a long-term hedge against inflation.

#BitcoinCrash #BitcoinAnalysis #CryptoCrash #FTX #LUNA $BTC $LUNA $LUNC

🔥 SEC has charged Jump Crypto for its involvement in the collapse of Terra's stablecoin. This highlights the need for greater regulation in the crypto space. What does this mean for the future of stablecoins and crypto firms? 🤔💸
#Blockchain #cryptonews #ethereum #luna