Terra (LUNA) founder Do Kwon has been placed on house arrest in Montenegro after a conviction for forging documents, leading to a 26% increase in LUNA's price.

Investor optimism is evident as LUNA's market cap hits $780 million, with a 270% rise in 24-hour trading volume.

Legal complexities surrounding Do Kwon persist, with outstanding extradition requests from the U.S. and South Korea contributing to market uncertainty.

Despite the market's instability, industry leaders like Binance CEO Richard Teng anticipate Bitcoin surpassing $80,000, though spot Bitcoin ETFs have experienced significant outflows.

Ethereum is under regulatory examination, with investigations from a state authority and delayed ETF decisions by the U.S. SEC.

Global enforcement actions have been taken in South Korea and the UK against individuals connected to alleged crypto fraud.