“I have received word from a verified source at a top law firm in the US that class actions are being prepared against Binance, Gemini, Kraken, and Coinbase under the Securities Act for the sale of UST and LUNA to US customers. They are looking to file within ten weeks.”
Moreover, in a subsequent tweet, the insider clarified {that a} mass arbitration motion is being filed, not a category motion. Although, class motion lawsuits are additionally being thought of as buyers lose belief in Terra.
In truth, the Terra neighborhood has criticized the Terra proposal to revive the Terra chain with out the UST stablecoin. Moreover, the neighborhood is not sure whether or not the revival plan with enhance the value of LUNA and UST tokens with the burn of 1 billion tokens. The worth of LUNA and UST at the moment buying and selling at $0.00016 and $0.094, respectively.
Is Citadel Behind the UST Depegging Attack
Luna Foundation Guard member Remi Tetot has lately urged {that a} high investigative journalist could have discovered proof that Citadel, the big hedge fund behind the GME quick, is liable for the UST de-pegging assault. The assault appears to have kickstarted the LUNA and UST demise spiral.
