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Do Kwon sentenced to 15 years; Terra Luna Classic (LUNC) community runs blockchain with slow token burn reducing supply.

Market News
15 Nov 2026, 01:31 WIB
CryptoTicker
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Bearish
Do Kwon sentenced to 15 years; Terra Luna Classic (LUNC) community runs blockchain with slow token burn reducing supply.

Do Kwon, founder of Terraform Labs, was sentenced to 15 years in prison for fraud related to the Terra blockchain collapse. The original Terra blockchain continues as Terra Classic, run by community validators without company backing. LUNC tokens have a slow burn mechanism reducing supply by about 0.6% annually, making significant price gains unlikely soon. Creditors can claim losses in ongoing bankruptcy proceedings, but no payouts date is set yet, and trading risks remain high due to large token supply and lack of centralized support.

Terra Luna Classic (LUNC) provides context for cryptocurrency market trends. For readers following crypto, here is Pluang's market snapshot as of Nov 15, 2026 06:01 WIB: of 50 major cryptocurrencies, 4 rose and 45 fell today. Notable movers include DOT at Rp12.739 with a -14.05% change, AVAX at Rp128.753 down -13.96%, and FIL at Rp11.116 down -13.94%.

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