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Terraform Labs and Do Kwon's efforts to toss a class-action lawsuit in Singapore have hit a roadblock.

TerraClassicUSD (CRYPTO: USTC), the remnant of the collapsed Terra blockchain, has surged 300% in the past week. What Happened: The rise in investor interest follows the news that cryptocurrency exchange Binance has started offering perpetual contracts for USTC, and as details of a proposed Bitcoin-focused revival plan with an airdrop emerge.

Terraform Labs and its founder, Do Kwon, are facing a significant legal challenge as a class-action lawsuit moves forward in Singapore's High Court. The court recently rejected an attempt by Terraform's lawyers to have the case thrown out, marking a pivotal development in the ongoing legal battle.

In a Singapore High Court battle, Terraform Labs and its founder, Do Kwon, are facing the heat as a class-action lawsuit gets a green light despite attempts to push it into arbitration based on website terms. Imagine investing in a promising digital coin only to watch its value crash overnight.

The defense team of Terra and Do Kwon said a Jump Crypto whistleblower helped the U.S. Securities and Exchange Commission (SEC) build a case against the defendants. The SEC accused Terra and Do Kwon of multi-billion crypto fraud, misleading investors about UST algorithmic stablecoin (now USTC), and violating securities and exchange regulations.

Terraform Labs, a Singapore-incorporated company behind the Terra blockchain, and its co-founder Do Kwon, are now grappling with the advancement of a class-action lawsuit in Singapore. The High Court recently dismissed the defendants' attempt to shift the case to arbitration, marking a significant development in the legal saga.

The suit was filed in September 2022 by Julian Moreno Beltran and Douglas Gan on behalf of 375 others, who claim they lost a combined $57 million.

A significant court ruling has emerged from the U.S. Securities and Exchange Commission's (SEC) ongoing case against Terraform Labs and its co-founder Do Kwon. Judge Jed Rakoff has granted permission to file sealed discovery documents by Jump Crypto, a key player in the Terra-LUNA debacle.

In a significant development concerning the legal tussle between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs (Terra) co-founder Do Kwon, recent court proceedings have unveiled a crucial cautionary note regarding confidential materials. The case, rife with intricate details and high-stakes implications, has seen the court emphasize the delicate handling of sensitive documents while the legal battle unfolds.

In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs (Terra) and co-founder Do Kwon, the court has agreed to submissions of discovery documents as sealed from Jump Crypto. However, the court made it clear to the defendants and its parties including Jump Crypto that it can make public

The prices of TerraUSD Classic (USTC) and Terra Luna Classic (LUNC) spiked amid positive developments for the Terra Classic (Terra) network. The increases and many transactions on the network suggested the Terra Classic ecosystem was returning to life after its 2021 collapse.

Jump Crypto has been granted access to confidential documents in the SEC vs. Terraform Labs case, allegedly implicating them in the TerraUSD devaluation and Terra's collapse.

In the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC) against Terraform Labs, Federal Judge Jed Rakoff has acknowledged the receipt of crucial discovery documents from Jump Crypto Holdings LLC. The documents, received on November 27, could illuminate the intricate details of Terraform Labs' operations and its dramatic collapse.

A U.S. court has ruled that Jump Crypto, which has been identified as a “third party” in the SEC's ongoing case against Terraform Labs, will be allowed to submit certain information to the court in confidence, according to a Nov. 28 order.

The trading firm and its CEO, Kanav Kariya, allegedly manipulated the price of TerraUSD to gain roughly $1.3 billion in profits.

A judge has granted Jump Crypto's motion to confidentially submit certain materials during the discovery phase in the US Securities and Exchange Commission's lawsuit against Terraform Labs and its founder Do Kwon.

Terraform Labs, the blockchain company behind Terra, officially stated its non-involvement in the stablecoin project Mint Cash UST 2.0.

Terra Price Prediction: In the past three days, Terra Luna (LUNA) has encountered significant momentum, surging by 34% to currently trade at $0.34. This upswing seems to be aligned with the notable growth observed in Algorithmic Stablecoin TeraClassicUSD (USTC), following a strategic investment move aimed at its revival.

Terra ecosystem coins have spiked following the injection of $15 million into the network's DeFi ecosystem by Terraform Labs.

Terra's failed stablecoin is particularly impressive today with a massive triple-digit surge.

Cryptocurrency prices have not started the week well. Bitcoin price retreated to $37,361 while the total market cap of all digital currencies dropped by 1.50% to $1.42. Some of the worst performers were tokens like Blur, FTX Token, Celestia (TIA), Mina, and ApeCoin.

The three tokens of the Terra ecosystem — Terra (LUNA), Terra Classic (LUNC) and TerraClassicUSD (USTC) — have gained momentum following an update last week.

TerraClassic, a decentralized stablecoin on Terra Classic, has surged by over 223% in the past 24 hours following a de-pegging incident in May 2022. Meanwhile, a local court in Podgorica has paved the way for the potential extradition of Do Kwon, the founder of Terraform Labs.

The market leader, Bitcoin, has continued displaying a neutral trend for over a week, with top cryptocurrencies riding in its footsteps. On the other hand, Terra tokens after trading in a consolidated range for weeks have displayed massive price action over the weekend by adding significant value to their respective portfolios.