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The crypto market is dumping immensely following in the Bitcoin price footsteps as it sinks below $40,000. Since the spot BTC ETFs went live in the US, it has been a massacre for the largest crypto and the top altcoin alike.

Terra Luna Classic community votes on another key proposal to bring changes to the chain impacting internal storage before developers start making key upgrades to the chain. It restricts developers from exporting the state of Terra Classic into a genesis.json file, which is crucial for testnets.

The Terra LUNC price continues to trade in the red, indicating a strong bearish influence in the crypto space. Further, the Terra token has lost over 11% within the past 24 hours, and over 26% over the past week. The LUNC price traded in a closed range between $0.0001327 and $0.

Amid crypto market uncertainty, the Terra Classic price, after a downward shift, is now trading sideways above the $0.0001 level, a key support corresponding to the 78.6% Fibonacci Retracement. This aligns with the formation of a bearish continuation pattern known as a pennant.

Terra Classic community has successfully executed the burning of over 700 million LUNC and 230,000 USTC tokens. This move forms a part of the broader strategy to restore the Terra Classic (LUNC) and TerraUSD Classic (USTC) after their notable collapse over 20 months ago.

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sui Chung, CEO of CF Benchmarks, discusses bitcoin's sell-off after the launch of spot bitcoin ETFs in the U.S.

Amid the current uncertainty in the crypto market, the Terra Classic Price downward trend shifted sideways to trade above the $0.0001 physiological level. This support coincides with the 78.6% Fibonacci Retracement level bolstering the formation of a bearish continuation called a pennant.

Do Kwon-founded Terraform Labs files for Chapter 11 bankruptcy in the U.S.

Crypto.com confirmed the delisting of the Terra Classic token from its trading platform following Terra Labs' bankruptcy filing.

Terraform Labs, the blockchain company behind the well-known Terra ecosystem, has recently filed for bankruptcy in the United States, approximately a month subsequent to a court ruling that found the company in violation of U.S. laws.

Terraform Labs has filed for Chapter 11 bankruptcy in the U.S. amid ongoing litigation with the U.S. Securities and Exchange Commission (SEC). The company stated in its bankruptcy filing that “funds will be available for distribution to unsecured creditors.” Meanwhile, Terraform Labs co-founder Do Kwon is facing an upcoming SEC trial and extradition proceedings.

Terraform Labs, whose collapse triggered a wider cryptocurrency market earthquake, has filed for bankruptcy. The Singapore-based digital asset company filed for Chapter 11 in Delaware Sunday (Jan. 21), listing assets and liabilities between $100 million and $500 million.

The firm has an estimated $100 to $500 million in assets and an equivalent sum in liabilities.

Singapore-based cryptocurrency firm Terraform Labs, the developer behind the collapsed algorithmic stablecoin TerraUSD, has filed for Chapter 11 bankruptcy protection in the US, with New York law firm Weil, Gotshal & Manges providing representation. According to the filing, Terraform Labs has between 100 and 199 creditors, estimated assets between $100 million and $500 million, and the same estimated amount of liabilities.

Although the majority of assets in the cryptocurrency sector have been underperforming in recent days or even weeks, some represent a particularly poor choice for crypto trading this week due to various internal and external factors causing their substandard outlook in the short term.

Terraform Labs bankruptcy has officially filed for Chapter 11 bankruptcy protection amidst ongoing litigation and U.S. proceedings involving the SEC.

Terraform Labs filed a petition for Chapter 11 bankruptcy protection in Delaware on Sunday. According to court documents, the company's estimated assets and liabilities range between $100 million and $500 million each and an estimated 100 to 199 creditors.

Terraform Labs, the entity behind the now-defunct stablecoin TerraUSD (UST), took the surprising step of seeking protection under Chapter 11 of the United States bankruptcy law. This decision comes amid its complex legal scenario and the postponement of a fraud trial.

The Terra Classic Community recently had something to cheer about following revelations about the amount of LUNC and USTC token burns that were carried out in the past week. During that period, a significant amount of LUNC and USTC tokens are said to have been burned, something which could positively affect the crypto tokens' prices.

Over 20 months following the collapse of the Terra ecosystem, the community remains committed to revival efforts. Central to their long-term strategy is the deliberate reduction of the Terra Classic (LUNC) and TerraUSD Classic (USTC) supply, which had contributed to the ecosystem's downfall.

Terraform Labs, led by Do Kwon, files for Chapter 11 bankruptcy amid legal woes, with estimated assets and liabilities between $100M-$500M.

The firm said that the bankruptcy filing would enable it "to execute on its business plan while navigating ongoing legal proceedings."

Terraform Labs, creator of failed stablecoin TerraUSD, filed for bankruptcy amidst mounting legal issues and the extradition of its founder to face criminal fraud charges in the U.S.

The Terra Luna Classic (LUNC) community encountered a minor setback as certain investors received delisting emails from Crypto.com. This development led to a nearly 10% decline in LUNC price, leaving holders in a dilemma about selling their holdings or awaiting an official announcement on Crypto.com's website or social media channels.