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The terra luna classic price has fallen by 3% in the past 24 hours, as the market continues to reel from the ongoing effects of the FTX collapse and subsequent hack. At $0.00015053, LUNC is also down by 13% in the past week and by 35% in the last 30 days, with ongoing token burns currently doing little to counteract the effects of negative investor sentiment.
Despite Luna Classic's trading volume doubling in the past 24 hours and hitting $150 million, its price has not been impacted.
Months after the collapse of the Terra USD stablecoin and the LUNA coin crashed the global cryptocurrency market, Terra (LUNA) is struggling to recover. Some analysts have described current LUNA performance as dismal.
South Korean authorities have reportedly seized over $100 million from Shin Hyun-seong, the co-founder of collapsed stablecoin issuer Terra (LUNA). According to a new report by YTN Korea, a court has frozen the funds of Hyun-seong at the request of prosecutors.
South Korea's prosecutors have reportedly obtained a court order to freeze assets worth about $104 million belonging to Terraform Labs co-founder Daniel Shin. The authorities allege that he unfairly profited from selling cryptocurrency LUNA at high prices before the token crashed. Shin has denied the allegation.
The price of Terra Luna Classic (LUNC) has fallen from $000.2425 to $0.0001765 since the cryptocurrency exchange FTX collapsed on 8 November.
The decline in LUNC prices this week was brought about due to the FTX debacle that has adversely affected the entire cryptocurrency industry.
South Korean officials have confiscated over $100 million worth of funds belonging to Terraform Labs co-founder Shin Hyun-Seong (Daniel Shin).
It's been a brutal year for crypto, but in a crowded field these three stand out.
The decision to freeze Shin's asset worth over $104 million was approved by the Seoul Southern District Court, which was based on a request from the prosecutors.
The seizure is intended to prevent the Terra executive from disposing of the assets before his trial this week.
South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits. The decision to freeze Shin's asset worth over $104 million was approved by the Seoul Southern District Court.
In a piece of vital news related to Terra (LUNA), the “Alliance” module will bring interchain staking to form economic alliances among various blockchains. Alliance is a Cosmos SDK module and therefore can be plugged into the Terra Blockchain which is built on Tendermint, a consensus protocol built for Cosmos.
An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company's implosion.
According to local reports, Terraform Labs Co-founder Daniel Shin has claimed that he did not sell LUNA at its peak, before the token's price collapsed. Shin reportedly held a considerable number of LUNA during the ecosystem's collapse in May.
Blockchain evidence shows that FTX's FTT token combined with trading losses both hid and worsened the financial condition of Sam Bankman-Fried's empire.
Co-founder of Terraform Labs Pte., Daniel Shin Ltd.
In his first court filing, new FTX CEO and bankruptcy trustee John Ray III revealed yesterday an even greater extent of the fraud and chaos behind the collapse.
Terra Luna Classic price prediction is bearish; however, buyers still have hope for a bullish reversal above $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh to investors, with most cryptocurrencies unable to produce gains.
$4 billion in FTT tracked from Alameda to FTX aligns with reports of a loan—using customers funds—from the exchange to the trading desk.
Terra (LUNA) founder Do Kwon and the Luna Foundation Guard (LFG) spent as much as 80,000 bitcoin, worth a whopping $2.8bn, to defend the algorithmic stablecoin UST's dollar peg, a new audit report has revealed.
A South Korean Court has frozen Terra co-founder, Daniel Shin's US$104 million in digital assets for allegedly violating the capital markets law and breach of duty. CEO Do Kwon tweets he was wrong, not fraudulent.
A detailed review of Do Kwon's rescue efforts
A South Korean court has approved the prosecution's request to seize assets belonging to Terraform Labs co-founder Shin Hyun-Seong over his role in the collapse of the Terra (LUNA) ecosystem.
