With just one day to go, April 10 is shaping up to be a big day for investors in Terra Classic (LUNC) and TerraClassicUSD (USTC). Terra co-founder Do Kwon is set to appear in a key court hearing that could impact the future of the Terra ecosystem—and possibly the broader crypto space too.
What happens in court could shift the direction of ongoing lawsuits, investor payouts, and even public opinion around one of crypto’s most dramatic crashes. With new rumors, big money on the table, and political twists in the mix, there’s a lot more going on than meets the eye.
Let’s break down what’s happening—and why it matters now more than ever.
Last month, the New York District Court postponed the hearing to April 10 at the request of the U.S. government. Now, there are rumors that it might be delayed again. Reports suggest prosecutors are working on gathering new evidence for the case.
While legal issues continue, Terraform Labs (TFL) is moving forward with its efforts to repay investors who lost money during the Terra collapse. The company has set aside up to $442 million for reimbursements.
To qualify, users need to show proof that they held LUNA or UST tokens during the crash. This usually involves contacting the exchange where they kept their tokens and requesting transaction records. Those who received LUNA airdrops during the fallout are also considered eligible for compensation.
Investors are advised to start by reaching out to their exchanges to get account history or token balance details from the time of the crash. These documents will support their claims. The process is open to all affected users, no matter which exchange they used.
Many in the Terra Classic community believe that once these legal and financial issues are settled, the chain will have a chance to rebuild. Ending lawsuits and compensating users could be a fresh start, helping restore trust and giving the ecosystem a clearer path forward.
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.
Do 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 is scheduled for January 26, 2026, with pretrial motions due by July 1, 2025.
All eyes are on what rises next – redemption, regulation, or something entirely unexpected.
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