Terraform Labs asks jury to decide whether UST and LUNA are securities

Bitget App

Trade smarter

Bitget

News

Cointime2023/12/06 22:24

By:Cointime

According to The Block, on December 7th, Terraform Labs requested a New York judge to let the jury decide whether UST and LUNA tokens are securities. In a letter written to Judge Jed Rakoff on Monday, Terraform Labs lawyer David Kornblau stated that the jury should determine "whether the SEC has fulfilled its responsibility to prove that UST, LUNA, wLUNA, and MIR tokens are securities." Previously, the U.S. Securities and Exchange Commission (SEC) argued in a document that juries almost never decide whether an asset belongs to an investment contract, and that this matter should be decided by a judge. In February of this year, the SEC sued Terraform Labs and its co-founder Do Kwon, accusing them of raising billions of dollars through the issuance and sale of unregistered securities.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA•2025/09/12 06:14

FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA•2025/09/12 06:14