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The Court of Appeal of Montenegro has reversed a decision approving the co-founder of Terra Labs Do Kwon extradition to either the United States or South Korea.

Montenegro's Appeals Court has canceled the extradition of Do Kwon, the founder of Terra, to the United States or South Korea. Today's announcement brings a new layer of complexity to the ongoing legal challenges faced by Kwon, who is dealing with various charges across multiple countries.

The Appeals Court council found that the decision was fundamentally flawed due to significant violations in the legal process.

In a recent turn of events, the Appeals Court of Montenegro has overturned the high court's decision approving the extradition of Terra founder Do Kwon to the U.S. or South Korea. Meanwhile, the legal saga surrounding Kwon, initially detained over falsified document charges, has taken a new direction.

A Montenegro court has overturned the extradition permit for Terraform Labs co-founder Do Kwon. According to an official statement, the Montenegro Court of Appeal on Dec.

The Appeals Court in Montenegro overruled the High Court's previous decision to extradite Do Kwon, per a Vijesti report from December 19. The Appeals Court found that there had been multiple violations in the legal proceedings that led to the High Court decision on November 17.

A previous decision that legal requirements for extradition had been met was rejected by the country's Appeals Court.

A community-run news aggregator has written on X (Twitter), citing Bloomberg, that the Montenegro Court has canceled extradition approval for the Terraform Labs co-founder Do Kwon.

In addition to Terra Classic, a newcomer in the crypto space is making waves – NuggetRush (NUGX), a meme coin. Currently performing well in its presale, NuggetRush is anticipated to outpace Solana's (SOL) growth by tripling its market value.

Lunanauts, a validator for LUNC, shared plans for a new collaboration to boost support for the LUNC cryptocurrency. This announcement gained attention in the crypto market, especially as it coincided with a decline in the token's price.

Lunanauts, a LUNC validator, recently revealed the community's plans to forge ahead with a collaboration aiming to build up further support for the LUNC cryptocurrency. The announcement, coming to light on Monday, amassed significant attention within the broader crypto market as it came amid a price fall noted by the token.

The Terra Luna Classic community made a decision to reject a proposal suggesting the burning of 800 million TerraClassicUSD (USTC). Instead, the community is exploring alternative methods for a more effective and efficient fund burn.

The Terra Luna Classic community rejected a proposal to burn 800 million TerraClassicUSD (USTC) as they look for better ways to burn these. The community believes there are easy ways to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet without an update and any legal consequences.

Crypto Price Prediction: After witnessing a strong recovery for the past 8 weeks, the crypto market pauses to recuperate the exhausted bullish momentum. This post-rally correction is evident with the Bitcoin price reverting from $44,500 trying to stabilize to a recent gain.

Terra Classic Price Prediction: The crypto market witnessed increasing volatility from the second week of December in tandem with the Bitcoin price reverting from $44500. However, this uncertainty took a major toll on the LUNC price, dropping from $0.00028 to $0.000163, accounting for a 41% loss.

While the week started on a high note of $43,800 for Bitcoin (CRYPTO: BTC), it didn't reach that level again for the rest of the week. The crypto's apex king reported a 4% drop in the past 7-days trade while Ethereum (CRYPTO: ETH) saw a 4.6% fall in the same timeframe.

L1TF, the core developer, and Terra Classic Coalition (TCC) have proposed a concrete implementation plan for the approved pay-per-job model in Terra Luna Classic. This model shifts from a monthly payment system to compensating tasks like chain upgrades and maintenance on an individual job basis, representing a notable transformation in how contributions are rewarded in the Terra Luna Classic network.

Terra Luna Classic price is still extending the decline from last week despite the majority of cryptocurrencies rebounding from Wednesday supported by improving sentiment. Bitcoin price blasted above $43,000 after sweeping lows close to $40,000 after the Federal Reserve announced three rate cuts in 2024 while leaving interest rates unchanged.

Core developer L1TF and the new developer group Terra Classic Coalition (TCC) have proposed a practical implementation of the pay-per-job model that the Terra Luna Classic community passed through governance voting. Terra Luna Classic switched from a monthly pay model to a pay-per-job model for tasks including chain upgrades, maintenance, infrastructure management, and others.

Even with positive news within the LUNC community, bearish forces seem to have a strong grip on the market. CoinGlass reports that in the past 24 hours, a total of $222,000 worth of long positions were wiped out, despite the open interest remaining positive.

After an impressive 300% rally in the past week, Terra Luna Classic (LUNC) is now facing bearish pressure as it slumped nearly 10% this week. Despite positive internal news for LUNC, the bears still hold the market at a chokehold.

Back in August 2023, the Terra Classic community passed a proposal that would see 800 million USTC incinerated. This move came about as the community worked to help the token recover and be re-pegged back to the US dollar.

Thanks to its healthy market structure, further gains seem possible for LUNC.

The cryptocurrencies backed by the Terra Classic ecosystem, LUNC and USTC, recently amassed noteworthy attention among crypto market fanatics as the tokens showcased significant upward market trajectories on Thursday. Moreover, the rise in prices comes amid the colossal burning of USTC, stirring speculations across the broader crypto market.