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Join Our Telegram channel to stay up to date on breaking news coverage Luna Foundation Guard (LFG), a fund created specifically for the Terra network, remarked in a follow-up update that the distribution of assets might not be feasible at the moment, nor could a timeline be established for the same. On the 7th of October, LFG cited on Twitter that the “distribution is not possible due to the ongoing and threatened litigation ” as the reason behind the abrupt halt. Terra aims to distribute the remaining assets to the users – the smallest holders first – impacted in the UST depeg, as stated by the LFG. The fund&rsquo ;s reserve balance reached $4 billion over time before the market downturn in the month of May. However, it has dropped catastrophically to around $105 million at the time of writing. The fund further added in the Tweet that “they will continue to follow through their initial plans, and the people waiting will be first to know about any...

Do Kwon Receives Bail, But Remains in Extradition Custody Montenegro High Court on June 15 rejected Montenegrin prosecutors’ appeal and upheld the verdict by Montenegro Basic Court Judge Ivana Becic to accept the bail of Terra co-founder Do Kwon and former CTO Han Chang-joon, confirmed court spokesperson Marija Rakovic. advertisement Earlier this month, Montenegro Basic Court approved Do Kwon and Han Chang-joon’s bail of 400,000 Euros ($436,000) each for the second time, adding surveillance and other court measures to the bail conditions. The Basic Court sent the prosecutors’ appeal and the passport forgery case files to the Montenegro High Court for judgment. Montenegro High Court granted bail so that they can defend themselves against charges of documents forgery. However, Do Kwon and Han Chang-joon will remain behind bars as the High Court judge ordered them to be extradited to South Korea. The High Court investigating judge at the request ...