Do Kwon’s April 10 Hearing Could Redefine Terra Classic (LUNC) and USTC’s Future
The post Do Kwon’s April 10 Hearing Could Redefine Terra Classic (LUNC) and USTC’s Future appeared first on Coinpedia Fintech News
With just one day left, April 10 is shaping up to be a crucial date for Terra Classic (LUNC) and TerraClassicUSD (USTC) investors. This is when Terra co-founder Do Kwon will appear for a conference hearing that could influence the ongoing legal proceedings tied to the 2022 Terra crash. The outcome may not only impact Kwon’s fate but also signal the next steps for the Terra ecosystem.
Following the US government’s request New York District Court adjourned the hearing on April 10th last month. However, there are rumors also that the proceedings might be delayed as prosecutors are building new evidence in the case.
TFL Offers Up to $442M in Compensation
Meanwhile, Terraform Labs (TFL) continues to process claims from investors who suffered losses during the historic collapse of the LUNA and UST. The firm has earmarked up to $442 million for reimbursements.
To qualify, users must submit proof of their token holdings during the crash. This typically involves contacting the exchange where they held LUNA or UST and requesting transaction records. Victims who received LUNA airdrops during the fallout are also eligible, as they are seen as impacted parties.
How to File a Claim
Investors are urged to begin by reaching out to their respective exchanges for account history or token balance confirmations from the time of the crash. These documents will support their compensation applications. The claim process is open to all affected users, regardless of where they traded.
Once these legal and financial issues are resolved, many in the community believe the Terra Classic chain can move forward with renewed strength and clarity. The end of lawsuits and settlement of losses may mark a turning point, giving the ecosystem a chance to rebuild with less baggage and more community trust.
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Do Kown’s Legal Status
Meanwhile, Trump granted clemency to BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed, who were convicted of money laundering on October 30th. This move is seen as more than just forgiveness; some believe it’s a sign that Trump wants to bring crypto closer to U.S. regulations. Now, the crypto community is buzzing with hopes for Do Kwon. Many say his vision for digital assets aligns with where the U.S. might be headed. Some even suggest that if he’s freed, he could help shape a new system with Trump.
Kwon, who was extradited from Montenegro in December, has pleaded not guilty to nine felony fraud charges related to the $60 billion collapse of Terra Luna. His trial remains set for January 26, 2026, with pretrial motions due by July 1.
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