Terra Classic Community Pursues USTC Stablecoin Restoration
Since the unfortunate Terra collapse in May 2022, members of the Terra Classic community have been steadfast in their quest to reclaim their investments and revive the project’s standing in the cryptocurrency sphere. Recent initiatives on the Terra Classic governance forum underscore their ongoing efforts. Proposal #11785: Seeking Binance’s Contribution One of the prominent proposals, […]
Terra Classic Community Considers Increasing Minimum Deposit to Tackle Spam Proposals
The Terra Classic community is currently engaged in important voting processes regarding several proposals, prompted by an uptick in spam activity coinciding with a decline in LUNC prices. In response to this issue, an innovative proposal, known as Proposal 11780 or the “Initiative to Address Spam Proposals by Raising the Minimum Deposit to 5M LUNC,” […]
Terra Classic Team Connects With Binance on USTC Re-peg, LUNC to $1?
The algorithmic stablecoin TerraClassicUSD (USTC), formerly TerraUSD (UST), whose ecosystem collapsed has aroused optimism among members of the Terra Classic community. On Wednesday, a well-known community member named Redline Drifter revealed that the Quant Team, which focuses on USTC re-pegging, has connected with Binance, the biggest cryptocurrency exchange in the world. With regard to executing […]
Latest Korean Court Ruling Declares Terra Classic is Not a Security
The Korean court has declared that Terra Classic (LUNC), the renamed native token of the Terra network that crashed severely last year, is not a security. Seoul Southern District Court again declared on February 16 that “it is difficult to see LUNC as a financial investment product regulated by The Capital Markets Act,” according to […]
Do Kwon’s Legal Team Disputing SEC Claim of Securities Fraud
According to Kwon’s legal team, the Securities and Exchange Commission (SEC) was unsuccessful in providing evidence to support their accusations that Kwon was involved in deceiving American investors in relation to the collapse of TerraUSD (UST) and Luna (LUNA), which had a combined value of $40 billion.’ Reportedly, Do Kwon’s legal representatives presented arguments in […]
Terra: Do Kwon Caught Using Fake Passport in Montenegro
Do Kwon, a Terraform Labs co-founder who was wanted for his involvement in the $40 billion Terra Luna ecosystem collapse in May 2022, was reportedly captured. According to a court document cited by DL News, he has been accused of using a false passport by Montenegrin authorities. South Korean national Kwon was detained last month […]
Breaking News!! Do Kwon Arrested in Montenegro
Do Kwon, a co-founder of Terraform Labs, who was wanted for his part in the $40 billion Terra Luna ecosystem collapse in May 2022, has reportedly been apprehended today. According to a tweet from Filip Adzic, Montenegro’s interior minister, Do Kwon looks to have been detained there. Filip Adzic tweeted, “Montenegrin police have detained a […]
Could LUNA and UST Comparisons Apply to MakerDAO’s Endgame Tokenomics?
The MakerDAO Endgame tokenomics has sparked controversy on social media, particularly on crypto Twitter. A specific excerpt from the tokenomics has drawn comparisons to the mechanism that some believe caused the collapse of the Terra ecosystem. The PaperImperium crypto Twitter account, which covers decentralized finance news, brought attention to a document related to MakerDAO’s Endgame […]
SEC Filing: Do Kwon and TerraForm Labs Laundered $100M of Bitcoin
Do Kwon, who is a co-founder of Terra, and TerraForm Labs (TFL) have been accused by the Securities and Exchange Commission (SEC) of being involved in money laundering, which allegedly occurred after the ecosystem of Terra collapsed in May 2022. Complaint filed by the SEC against Kwon According to a 55-page complaint filed by the […]
Terra Luna Crash: SEC to launch Lawsuit against Terraform Labs and Do Kwon
The US Securities and Exchange Commission is set to sue Terraform Labs in what could be a landmark suit since the Terra Luna crash that occurred in 2022. It should be noted that the regulator had been investigating the circumstance behind the token depegging, which is the first move towards litigation. TerraForms Labs set to […]