An initiative to raise the burn tax to 1.5 percent was shot down by the Terra Luna Classic community. Regular suggestions to change the burn tax, particularly to raise its amount, have been met with community members’ dissatisfaction. Members of the Terra Luna Classic (LUNC) community have spoken out against
In response to the SEC’s demand that Terraform Labs and its co-founder Do Kwon pay $5.3 billion in disgorgement and civil penalties, the company’s legal team has submitted a motion in opposition to the request. After a jury found Terraform and Kwon guilty of fraud, their defense team requested a
In light of a recent civil case ruling, Terraform Labs and its co-founder, Do Kwon, are facing the prospect of heavy financial penalties from the U.S SEC. A filing made on April 19 in the U.S. District Court of New York in the Southern District of New York states that
In the volatile world of cryptocurrency, chaos is a commonplace. Yet amidst the turbulence, one project remains steadfast in its mission to redefine the future. The HLX Token Presale, propelled by the pioneering Healix Protocol, stands firm against market fluctuations, offering investors an indication of stability in uncertain times. As
In the 19th batch of the LUNC burn mechanism, crypto exchange Binance, burnt 2.21 billion Terra Luna Classic (LUNC) tokens. This brings the total number of tokens burnt by the Terra Luna Classic community to over 102 billion, while the net burn by the crypto exchange reaches over 53 billion.
A court in Montenegro has approved an appeal by Terra co-founder Do Kwon to deny extradition, sending the matter back to the initial place for a new trial and eventual conclusion. In a filing dated February 8, the Montenegrin Court of Appeals overturned an earlier ruling by the Montenegro High
After spending time in jail in Montenegro, Han Chang-joon, the former chief financial officer of Terraform Labs, was extradited to South Korea. Both Terraform Labs and its co-founder, Do Kwon, were detained in March for trying to leave using phony passports. This additional twist adds another degree of complication to
In the 18th batch of the LUNC burn mechanism, crypto exchange Binance, burnt 2.1 billion Terra Luna Classic (LUNC) tokens. With almost 50 billion LUNC burnt so far, the crypto exchange accounts for 52.4% of all tokens burned by the Terra Luna Classic community. The Terra Luna Classic community has
Since May 2022, the LUNC burn campaign within the Terra Luna Classic community has surpassed 95 billion LUNC. The community’s efforts to decrease the amount of LUNC circulating have reached another milestone. By far, Binance has contributed more than 51.7% of the total burn, or about 50 billion LUNC. By
Terraform Labs, the entity responsible for the now-defunct stablecoin TerraUSD (USTC), has officially filed for Chapter 11 bankruptcy protection in the United States, according to a court document submitted on January 21. The Singapore-based company, known for creating TerraUSD, listed its assets and liabilities in the range of $100 million
