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Do Kwon – the crypto executive behind the Terra USD collapse that occurred in the summer of 2022 – has been arrested and taken into custody. Do Kwon Has Reportedly Been Taken In Kwon has allegedly been a fugitive these past few months.
The world's largest crypto exchange Binance on Monday burned 1.27 billion LUNC tokens in the 9th batch of the monthly LUNC burn mechanism. With the latest burn, the Terra Luna Classic community total LUNC burn has reached almost 55 billion.
LUNC News: What comes as a major surprise to many, the Terra Classic chain might just have its first very own Artificial Intelligence (AI) powered application chain. This comes after its key developer, Edward Kim, shared images of the whitepaper for the AI chain called Block Entropy on Saturday.
Terra Classic (LUNC) developer group Joint L1 Task Force on Saturday revealed the Q2 roadmap and target dates for network upgrades, governance proposals, and others. The developer group is targeting the Cosmwasm v1.1.0 upgrade (parity) in May to allow projects and builders across Cosmos and Terra Luna 2.0 to once again build on the Terra
In one of the most catastrophic events to ever hit the crypto industry, the prominent algorithmic stablecoin TerraClassicUSD (USTC) – formerly UST – became depegged from the US dollar around a year ago. As a result, the Terra ecosystem crumbled, leading to uncontrolled minting and supply of Terra Classic (LUNC) tokens.
Terra Classic price is again in rounds as an attempt to stabilize its popular algorithmic stablecoin, USTC has surfaced. The recent proposal called the ‘Redlinedrifter' aims to revive the Terra ecosystem by restoring the USTC peg.
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token's peg with the U.S. dollar.
The Terra Classic community is considering bringing back the failed terraUSD Classic (USTC), which collapsed last year. Terra Classic is the original network created by Terraform Labs and has been operating independently as a blockchain.
LUNC News: The massive community that supported the defunct altcoin Terra Luna Classic (LUNC) and its broken stablecoin Terra Classic USD (USTC) is currently attempting to bring the network back to its original game plan. Terra, formerly a prominent blockchain that intended to compete with Ethereum (ETH) and stablecoins like USDT and USDC collapses in
Terra's Do Kwon reportedly hid a fortune in a Swiss-based Sygnum bank account. US officials want justice, but the matter raises jurisdiction problems with the involvement of the Securities and Exchange Commission (SEC).
LUNC's future remains uncertain as Do Kwon's court proceedings continue
Community members are vying for a new model to improve revenues to sustain the peg, which includes token buybacks and fees paid on peg deviations.
How will LUNA react as CEO Do Kwon asks for the dismissal of charges leveled against him by the U.S. Securities and Exchange Commission (SEC)?
The voting period for Terra proposal 11487 will be ending on 30 April. Here's a look at the proposal and how it can affect the Terra ecosystem if passed.
In an effort to re-peg TerraClassicUSD (USTC) to the dollar, the Terra Classic (LUNC) community is once again mulling over a new proposal, submitted by an individual known as Redline Drifter. The proposal involved a mechanism that includes divergence fees on USTC trades that deviate from the peg.
Prosecutors from Seoul suspect that Terraform Labs and its co-founder, Do Kwon, still possess a substantial sum of money, specifically 130 billion won ($100 million), held in a Swiss bank account. This comes after recent legal action against ten associates of Terraform Labs, including co-founder Shin Hyun-seong, also known as Daniel Shin.
A fresh & innovative proposal to repeg USTC received praise among LUNC community, but how likely is it really?
In the wake of the recent legal action against ten associates of Terraform Labs, which included the co-founder Shin Hyun-seong, known to many as Daniel Shin, it appears that prosecutors from Seoul are convinced that Terraform Labs and co-founder Do Kwon are still in possession of a considerable sum of money, specifically 130 billion won
The special task force is digging deep for Terra's nest eggs as Do Kwon faces a gloomy year in Montenegro.
A Seoul Southern District Court recently found that LUNA, now renamed LUNC, is not a financial investment product. The US SEC called LUNC a security earlier this year.
In a 47-page document, lawyers for Do Kwon, the founder of collapsed crypto issuer Terraform Labs, have requested a U.S. court to dismiss charges made against him by the U.S. Securities and Exchange Commission (SEC). In part because of the lack of jurisdiction, the court filings filed Friday show.
South Korean prosecutors have indicted Terraform Labs co-founder Daniel Shin and nine others on multiple charges, including violations of capital markets law. Shin Hyun-Seong, also known as Daniel Shin, has been charged with fraud, illegal trading, and violation of the capital markets law, among other offenses.
Daniel Shin, co-founder of Terraform Labs, is among ten individuals charged in South Korea, as legal repercussions from the Terra crisis continue to unfold across multiple countries.
Terraform Labs (TFL) and its co-founder Do Kwon have requested the dismissal of the charges brought against them by the U.S. Securities and Exchange Commission (SEC).
