Do Kwon Bail Revoked By High Court In Montenegro
Portfolio Pulse from Murtuza Merchant
A Montenegro high court revoked bail for ex-crypto titan and Terraform Labs co-founder Do Kwon, resulting in his continued custody. Following the news, Terra blockchain's native Luna tokens fell 6.8%, and Luna Classic tokens dropped about 5%.
May 24, 2023 | 5:58 pm
News sentiment analysis
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NEGATIVE IMPACT
Terra blockchain's native Luna tokens fell 6.8% following the news of Do Kwon's bail revocation.
The revocation of Do Kwon's bail has a direct negative impact on the perception of Terra blockchain and its native Luna tokens. As a result, the price of Luna tokens fell 6.8% due to the increased uncertainty surrounding the legal situation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Luna Classic tokens dropped about 5% following the news of Do Kwon's bail revocation.
The revocation of Do Kwon's bail has a direct negative impact on the perception of Terra blockchain and its Luna Classic tokens. As a result, the price of Luna Classic tokens fell about 5% due to the increased uncertainty surrounding the legal situation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100