A Montenegro court has revoked the decision to extradite Do Kwon, co-founder of Terraform Labs, to either the U.S or South Korea. The decision of the High Court of Podgorica to approve Kwon’s extradition to either the United States or South Korea was annulled on December 14 by the Appellate
From May 18, 2022, till the present, the Terra Luna Classic community has burned 85 billion LUNC. The community’s efforts to decrease the amount of LUNC circulating have reached another milestone. Almost 43.6 billion LUNC, or more than 51% of the total LUNC burnt thus far, have come from Binance.
The co-founder of Terraform Labs, Do Kwon, is allegedly set to be deported to the US instead of South Korea in order to face criminal accusations. A report from the WSJ citing sources close to the situation states that Justice Minister Andrej Milović of Montenegro intends to approve the request
TerraClassicUSD (USTC) stablecoin has displayed a striking upswing, surging over 276% in the last 24 hours, triggering renewed optimism within the Terra Classic (LUNC) community and marking a significant moment for the digital asset. This unexpected rally follows a quiet pullback period, with both USTC and LUNC prices witnessing significant
The extradition of Terra co-founder Do Kwon has been accepted by a higher court in Montenegro, according to people with knowledge of the situation. Do Kwon and Han Chang-joon, former executives of Terraform Labs, were each given a four-month jail term in a passport falsification case, and their appeal was
By increasing the Tobin tax to 100%, the Terra Luna Classic community has voted to halt USTC minting. Several repeg USTC initiatives have been launched by the community and developers, all of which should help bring the Terra Luna Classic chain and LUNC token back on track. The previous 48
In its action against Do Kwon and Terraform Labs, the United States SEC has argued that there is “no genuine dispute as to any material fact” and so has asked a federal court for a summary judgement. The SEC’s brief restates the agency’s contention that Kwon and Terraform offered securities,
Since May 18, 2022, the Terra Luna Classic community has burnt a cumulative total of 76 billion LUNC, marking a significant milestone in the collective endeavor to lower the circulating quantity of LUNC. Binance, the biggest cryptocurrency exchange in the world, has burnt about 38.81 billion LUNC, or more than
The algorithmic stablecoin, earlier known as UST Terra Classic USD (USTC), has recently had its minting and reminting halted by the Terra LUNA Classic (LUNC) community. The de-pegging of the UST posed a difficult choice for the community of Terra Classic. A proposal to end the USTC-LUNA swapping mechanism was
While major cryptocurrencies, including Bitcoin, grapple with a downtrend in the market, the low-cap altcoin Terra Luna Classic (LUNC) has jumped to life with a significant breakout of a descending channel pattern. The cryptocurrency has gained nearly 12% (from $0.00005667 to $0.00006372) in intraday trading, and this unexpected surge has
