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Search Results for: Terra

SEC Approved for Joint US-South Korea Probe of Terraform Labs

A US judge has approved the SEC’s request to work with the South Korean government in its investigation of the alleged illegal scheme involving Daniel Shin, co-founder of Terraform Labs, and Chai Corp, a payments firm. As part of its investigation against Terraform Labs and its ex-CEO, Do Kwon, the

August 18, 2023 2 mins read

Whopping 1.41 Billion Terra Luna Classic (LUNC) Burned by Binance

In the 12th round of the LUNC burn mechanism, Binance burned 1.41 billion Terra Luna Classic (LUNC) tokens. The most recent burn brings the overall number of LUNC tokens burned by the cryptocurrency exchange to 37 billion, and the total number of LUNC tokens burned by the community to over

August 1, 2023 1 min read

U.S. Court Greenlights SEC’s Case Against Terraform Labs and Do Kwon

To prosecute its fraud case against Terraform Labs and its founder, Do Kwon, a New York federal court has ruled that the U.S SEC may proceed with the case. Nonetheless, the court let the securities regulator go forward, contradicting a prior finding by colleague Judge Analisa Torres, who found that

August 1, 2023 1 min read

Terra Luna Classic All Set for Community-owned Wallet

The Terra Luna Classic (LUNC) community will administer a wallet that is owned by the community and operated by the Joint L1 Task Force (L1TF). The Terra Luna Classic community has approved LUNC validator Happy Catty Crypto’s updated proposal to avoid privatization and emphasize creating wallet infrastructure. As Proposal 11645

July 22, 2023 1 min read

Binance to Support Terra (LUNA) Network Upgrade; LUNC and USTC Reacts!

Binance, the world’s largest crypto exchange, has announced its support for the Terra (LUNA) network upgrade. The Terra community has successfully passed the on-chain proposal for the Phoenix software upgrade v2.4, with a majority of votes in favor of the upgrade. As a result, the price of LUNA has witnessed

July 17, 2023 2 mins read

TerraUSD Classic (USTC) Witnesses 20% Surge in Price

The algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, TerraUSD Classic (USTC), is on a meteoric rise today, demonstrating a tremendous upsurge of interest in the stablecoin. CMC reports a 24-hour increase in value of 20.18% for the stablecoin TerraUSD Classic, which now stands at $0.01803. The overnight purchasing momentum

July 16, 2023 2 mins read

Terra Classic (LUNC) Validator To Burn 100% of Commissions

ClassyCrypto, the operator of the Terra Luna Classic validator Classy’s Sphere, hopes that by burning billions of LUNC tokens, he will restore validator burns and put the LUNC price back up to $1. ClassyCrypto has declared that, until the end of the year, it would spend all of its validator’s

July 12, 2023 1 min read

Terra Co-Founder Daniel Shin and Others Summoned to Court in South Korea

Prosecutors have summoned Terra co-founders Daniel Shin and 7 others to court on several accusations as South Korea pursues the extradition of Terra co-founder Do Kwon from Montenegro. In the first trial in South Korea, a court heard charges of fraud, breach of duty, embezzlement, and violation of the Capital

July 10, 2023 1 min read

Terra Classic Devs Propose Bug Bounty Program To Improve Security

The Joint L1 Task Force (L1TF), a group of community-backed core developers for Terra Luna Classic, has suggested a bug bounty program to reward those who discover and responsibly disclose flaws in the system. The reward will be paid entirely out of donations to LITF made by the general public.

July 4, 2023 2 mins read

Recent Approvals Drain Terra Classic Community Fund Pool

The community pool fund at Terra Luna Classic has reached a dangerous low after three expenditure requests were approved by the community. The community no longer has enough money to pay for the further growth and upkeep of the network after seeing their total funds fall from 2.37 billion LUNC

July 3, 2023 1 min read