A Crypto Twitter user noted that Luna coin showed its appearance as a solid company in the Major League Baseball (MLB) in Washington DC.
Luna coin is an infamous crypto token, which collapsed badly in May 2022 during very high volatility in the crypto sector. Terraform Labs was the engineering team behind Terra blockchain. Luna was a native token on the Terra blockchain network. TerraUSD stablecoin was integrated with Luna coin, to maintain the value of each TerraUSD equal to $1 but that was indeed a very bad crypto token & stablecoin model.
On 31 March 2023, A crypto Twitter user shared a photo that was clicked by him during Major League Baseball’s opening day at Nationals Park in Washington D.C.
In the clicked photo, we can see the Terra coin advertisement banner.
People in the Crypto community noted that the latest appearance of the Terra (Luna) crypto project in a sport game was a part of its past advertisement partnership with The Washington Nationals.
In Feb 2022, Terra and The Washington Nationals partnered for $38.2 million in UST over five years to secure the deal.
Do Kwon was the core leader behind the Luna coin. After May 2022, Kwon was on the run. Just a week ago, the local police in Serbia arrested him with fake I’d documents.
Around a month ago, the United States Securities and Exchange Commission (SEC) initiated multiple fraud charges against Terraform labs & Do Kwon for misleading Luna coin investors.
The SEC agency alleged that Luna was a Singapore-based crypto project but it was targeting global crypto investors, including the US crypto sector. The securities regulatory body also claimed that there was no protocol between Luna coin & TerraUSD stablecoin, indeed a third-party company was manipulating the price of these two coins for money.
Read also: Kraken signed for pre-registration in Canada