USA: judicial hearing do Kwons because of the terra crash is also the prelude to his criminal trial-but only in 2026
- Tomorrow hearing will indicate the further procedure in the procedure against do Kwon and because of the crash from Terra Classic.
- Terraform Labs has made $ 442 million available for compensation for the customers affected by the Terra crash worldwide.
With only one day remaining, April 10th to a key moment for Terra Classic (LUNC) and Terraclassicusd (UStC) invested. The scheduled court hearing, in which the Terra co-founder Do Kwon participates, could determine the course of the ongoing legal dispute, which results from the collapse of the Terra ecosystem in 2022.
Since both the pressure of the regulatory authorities and the mood of the investors increases, many in the crypto community pursue the developments closely. The result could influence the future of Terra Classic-Chain and the wider digital wealth landscape.
Do Kwon hearing and process
As reported by CNF, Do Kwon will probably appear on a hearing on April 10 after his delivery from Montenegro. He has not guilty in nine fraud in connection with the collapse of Terra Luna and VAT worth $ 60 billion.
The upcoming legal proceedings will begin on January 26, 2026, but applications for the preliminary procedure must be submitted by July 1, 2024. The New York district court has postponed the hearing because the US prosecutors reported unconfirmed more time to collect additional evidence after they had previously applied for postponement of the procedure.
Some members of the crypto community believe that the outcome of the case could not only affect Kwon’s fate, but also the regulatory climate around decentralized finances. The public discussion about the pardon of Bitmex founders Arthur Hayes as well as Benjamin Delo and Samuel Reed by Donald Trump has flown back.
Many legal experts see this event as an indication that the US officials could change their attitude in relation to the crypto regulatory practices. Several sources predict that Kwon’s vision could correspond to the new crypto regulations in the United States if its legal obstacles are eliminated.
Compensation procedure and the further way for Terra Classic
Terraform Labs (TFL) is currently working on compensation processes for users who have lost money after the collapse of Terra. Official sources indicate that the company will compensate users worth up to $ 442 million.
All applicants must provide proof of the possession of Luna and VAT token at the time of the collapse of Terra. Those who have received Luna-Airdrops are viewed by the company as affected users who have to make compensation claims.
The applicants are recommended to first contact the stock exchanges where they had tokens and to request transaction records or account statements from the time of collapse. The requested documents serve as proof of the right to claim before the applicants submit a reimbursement application. The global open procedure applies to all users affected by this event, including those who acted in any region at any time.
The community members believe that the Terra Classic Blockchain can progress with a new momentum as soon as the legal proceedings are completed and the financial claims have been paid. Since the trust of investors may be restored, many see this phase as a decisive point for reconstruction and further development.
No Comments