LUNCUSDT.P trade ideas
LUNC Terra Classic Ponzi SchemeThe collapse of Terra's LUNA and TerraUSD cost investors over $40 billion.
Some of them lost their lifetime savings, others lost borrowed money and some even committed suicide.
This project made investors lose trust in the crypto space as well.
The CEO of Terraform Labs, Do Kwon, is facing criminal charges for building a Ponzi scheme in South Korea, Terra investors being victims of fraud. Billionaire Bill Ackman also considered the project to pyramid scheme.
Do Kwon was the one behind Basis Cash, another failed algorithmic stablecoin in which people lost $54 million.
Terraform Labs also lost US Appeal Securities and Exchange Commission Subpoena.
I don`t see a future for this project.
There is a chance that its founder, Do Kwon, end up in jail if the criminal charges for building a Ponzi Scheme will turn out to be true.
LUNCUSDT | Time for Correction?If we believe that the 5th wave has been completed, then we may be due for correction. The last time LUNC was this oversold, it jumped for more than 100%. I will be longing here.
Please do your own research. This idea is not to be considered financial advice. May YeHoVaH bless you.