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Terra Luna Price Drops 23% After Do Kwon Sentenced to 15 Years for $40B Fraud

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Terra Luna price fell 23% after co-founder Do Kwon was sentenced to 15 years for a $40 billion stablecoin fraud. Kwon pleaded guilty in August to conspiracy and wire fraud. The judge called the scheme “epic” and “generational.” Despite the drop, Terra Luna has gained about 40% in the past week. The crypto price is now at $0.00004581, with technical indicators showing a potential breakout from a 3-year downtrend. Investors are keeping an eye on altcoins to watch amid shifting market sentiment.
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