Keep up with what's happening in the crypto world in real-time.
All Filters (1)
Cryptocurrencies moderately rebounded this week but bulls are not in the clear yet. For instance, although Terra Classic (LUNC) climbed slightly above $0.0001 from support at $0.00009, it had corrected to $0.000095 during US business hours on Wednesday.
Terra Luna Classic core developer L1TF's proposal for core security upgrade package has been rejected by the Terra Luna Classic community. The proposal faced setbacks after validators including Allnodes voted “No” citing proposal 11889, a pay-per-job approach for developments, as the reason for rejecting the current proposal.
According to Terraform Labs CEO Chris Amani, the decision to file for bankruptcy is a crucial element in their strategy to appeal the SEC lawsuit. Amani stated in a filing to the Delaware Bankruptcy Court that the Chapter 11 bankruptcy filing is pivotal for a successful appeal, as it could eliminate the need for a substantial bond typically required for such legal actions.
CEO Chris Amani is leading this strategic move, initiated on January 21 in the U.S. Bankruptcy Court for the District of Delaware, as a means to strengthen the company's position amidst an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC). Utilizing bankruptcy laws as a protective shield, Terraform Labs challenges the SEC's lawsuit, arguing against the classification of crypto assets within Terra's domain as securities.
Terraform Labs, the brains behind the Terra blockchain network, opted for bankruptcy protection as a strategic move against any “potential money judgment” that could be enforced by the U.S. Securities and Exchange Commission (SEC). In a Jan.
Chris Amani, the CEO of Terraform Labs, has said that the company's decision to file for bankruptcy will help it appeal its lawsuit from the United States Securities and Exchange Commission.
Terraform Labs CEO Chris Amani declared in a court filing that the company is not built to currently generate profits, amid citing previous crypto collapses to support its case.
Singapore-based Terraform Labs says its recent bankruptcy filing will help it pursue a “do-or-die” appeal against the U.S. Securities and Exchange Commission (SEC).
Terraform Labs files for bankruptcy to appeal against SEC lawsuit, challenging jurisdiction over crypto assets. CEO Amani challenges jurisdiction, affecting cryptocurrency regulation and digital asset classification.
The Terra community doesn't seem to catch a break lately. Terraform Labs filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on Jan. 21, according to the court's website. The aim is to bolster its appeal against the SEC lawsuit.
Terraform Labs' bankruptcy protection would allow the company to pursue an appeal against the SEC's fraud lawsuit, the company said.
The firm's CEO Chris Amani says bankruptcy protections could help appeal the suit brought against it by the SEC, effectively eliminating “the single largest claim against it.”
Terra Luna Classic community strives for a new dawn with multiple LUNC burns lined up this week.
In a recent message about X, Derek suggests that it's better to think long-term and aim for a goal of $0.03, rather than worrying too much about short-term ups and downs. This advice has caught the attention of the LUNC community.
The Terra Classic ($LUNC) community has recently burned more than 1.1 billion tokens, valued at over $100,000, bringing the total supply of the cryptocurrency down to 6.812,67 trillion amid renewed efforts to help its price reach $0.1 per token.
Amid the market uncertainty surrounding the Bitcoin ETF launch, the Terra Classic Coin price traded sideways for a major portion of January 2024. The daily time chart validates this consolation as the formation of a bearish pennant.
Terra Classic's native token, LUNC, trades at $0.00009967, experiencing a marginal 0.67% dip in the past 24 hours. However, the community has initiated a bold strategy to propel LUNC's value to $0.01, backed by a significant token burn.
Lunc News: Popular Terra Luna Classic validator brings a proposal to repeal 11889 pay-per-job proposal as it turns out to be hindering developments on the chain. A stalemate between Terra Luna Classic validators blocked a proposal for the L1TF core security upgrade package as validators including Allnodes claimed it violates the pay-per-proposal.
In a demonstration of unity, the Terra Classic community removed exactly 1,117,048,514 LUNC tokens from circulation, valued at around $111,313.88 based on current market prices. This action, shared by community member @AlexCryptoBull, reduces the total LUNC supply to 6,812,673,485,368 tokens.
Bitcoin recovers despite massive outflows from spot Bitcoin ETF products; BTC confiscated from Silk Road gets sold; Terraform Labs goes bankrupt.
It's like a big team effort to make things better in the crypto world! Will LUNC Price explode?
The Terra Luna Classic token burn campaign has destroyed 95.19 billion tokens since May 13, 2022. That represents a crucial milestone and the community's dedication to reducing LUNC's circulating supply. Meanwhile, Binance, which has supported Terra initiatives, massively contributed to this development, destroying over 50B LUNC coins.
The Terra Luna Classic community's LUNC burn campaign has reached 95 billion LUNC since May 2022. This is another milestone in the community's efforts to reduce the circulating supply of LUNC.
Terra Luna Classic core developer L1TF's proposal for deploying the core security upgrade package faces a setback as validators, including Allnodes, vote “No.” Community members pointed to proposal 11889, advocating for a pay-per-job approach for developments, as the reason for rejecting the current proposal.
