After nearly four years in prison, Do Kwon, still has community members holding the line on Terra Luna Classic and looking forward to an "epic revival."
June 6. Even after Terraform Labs founder Do Kwon got handed a 15-year prison sentence for triggering the $40 billion Terra collapse, the original, abandoned Terra Luna Classic (LUNC) chain hasn’t vanished. A core group of community members is still keeping the network running, holding out hope for one of the biggest comebacks in crypto history.
According to reports, a key LUNC community member going by the name “Vegas” lost roughly $50,000 in the 2022 Terra meltdown. Since then, he’s stayed busy running validator nodes, voting on governance proposals, and coordinating with developer teams. He says despite years of infighting, fraud allegations, and even being falsely reported to regulators, he’s convinced LUNC has what it takes to claw its way back into crypto’s top 10 by market cap.
After the 2022 Terra collapse, Terraform Labs hard-forked to launch a new Terra chain—while the original chain was kept around and rebranded as Terra Luna Classic. Soon after, the community group Terra
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Trump Calls Iran Situation 'Progressing Smoothly' as U.S. Military Keeps Intercepting Missiles, Targeting Radar Sites
June 6 local time, the U.S. Central Command (CENTCOM) announced in a statement that Iran launched seven ballistic missiles at Kuwait and Bahrain on Friday local time. U.S. forces successfully intercepted six of the missiles, while one missed its intended target. Earlier the same day, U.S. military assets also shot down four Iranian drones heading toward the Strait of Hormuz, and subsequently conducted strikes on multiple Iranian coastal surveillance radar facilities to halt further attacks.
The Islamic Revolutionary Guard Corps (IRGC) stated its missile and drone strikes targeted the U.S.-occupied Ali Al-Salem Air Base in Kuwait and the U.S. Fifth Fleet based in Bahrain. Kuwait’s military assisted in intercepting the incoming missiles and drones, while Bahrain briefly activated its air defense sirens in response.
Despite ongoing hostilities, U.S. President Donald Trump commented that the “Iran situation seems to be progressing quite nicely,” adding that the U.S. will “resolve the Ira
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Longling Capital is suspected to have sold 10,000 ETH, withdrew 21.94 million USDT, or further reduce liquidation risk
BREAKING (June 6) – Per EmberCN monitoring, the 10,000 ETH Longling Capital previously transferred to Binance are suspected to have been sold. Meanwhile, the firm’s associated address withdrew 21.94 million USDT from the crypto exchange.
On-chain data shows the address currently holds 95,845 ETH deposited on Aave (valued at ~$149 million), with a borrowed balance of 91.33 million USDT. The liquidation price for its ETH positions is approximately $1,148.
Industry analysis suggests Longling Capital’s partial ETH sale and increased stablecoin holdings this time are likely aimed at optimizing its asset-liability structure, reducing leverage, and lowering the liquidation threshold to improve its position’s safety margin amid market fluctuations.
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SpaceX Completes Two Orbital Launches within 19 Hours, IPO Oversubscribed and Set to Land on Nasdaq on June 12th
June 6 – SpaceX has just set a new record for high-frequency orbital launches: between June 3 and June 4 local time, the aerospace giant launched two Falcon 9 rockets from separate U.S. sites—Vandenberg Space Force Base in California and Cape Canaveral Space Launch Complex in Florida. The missions deployed Starlink satellites: Starlink 17-47 and Starlink 10-43, bringing a total of 53 new satellites into orbit, with liftoffs spaced less than 19 hours apart.
Breakdown of the dual launches: The June 3 mission out of California carried 24 satellites, lifting off at 8:40 a.m. Pacific Time. The June 4 flight from Florida deployed 29 satellites, launching at 6:26 a.m. Eastern Time. Market analysts note this marks a stark shift from most aerospace companies, which still struggle to maintain a stable monthly launch schedule—consecutive orbital launches have become normalized for SpaceX.
In other corporate news, SpaceX is set to debut on the Nasdaq exchange on June 12 under the stock ticker "S
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A few days after the ceasefire agreement was signed, an Israeli airstrike on a Lebanese military vehicle resulted in the death of one general and two soldiers.
June 6 — Tensions between Israel and Lebanon have flared anew, just days after a recent ceasefire agreement, leaving an already fragile situation on edge. Lebanese military sources reported that on the 6th, the Israeli military carried out an airstrike on a military vehicle in southern Lebanon’s Nabatieh area, killing a Lebanese brigadier general, a captain, and one other soldier. Lebanese President Michel Aoun condemned the attack as a serious violation of Lebanese sovereignty and international law.
The Israel Defense Forces (IDF) confirmed it conducted the strike, stating there was “suspicious activity” in the vehicle’s location, with intelligence indicating potential Hezbollah involvement. The IDF added that an investigation into the incident is underway, emphasizing that the target of the attack was not the Lebanese Army.
Additionally, on the same day, the Israeli military launched a separate airstrike on the southern Lebanese village of Saksakieh, killing at least six civilians
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This Week's Macro Highlights: Strong Non-Farm Payrolls Boost Rate Hike Expectations, US Tech Stocks Lose Over $1 Trillion in Market Cap in a Single Day
June 6. The U.S. May non-farm payrolls added 172,000 jobs, handily beating the market consensus of 85,000, triggering a full repricing of the Federal Reserve’s policy trajectory. The odds of a December rate hike now stand at 63%, with multiple Fed officials adopting hawkish stances. That pushed the U.S. Dollar Index back above the 100 threshold, gold sinking for a fourth straight week, and U.S. tech stocks tumbling sharply on Friday: the Philadelphia Semiconductor Index crashed 10% in a single day, wiping more than $1 trillion off its market cap.
This week, Middle East tensions remain elevated. U.S.-Iran talks have stalled over asset unfreezing, with Iran warning it will expand its attack scope if the conflict escalates. A draft management framework for the Strait of Hormuz is now under review, while Lebanon’s crisis continues to flare.
In capital markets, SpaceX plans to debut on the Nasdaq on June 12, with an initial offering price of $135 per share, targeting $75 billion in procee
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