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Attorneys representing Terraform Labs and Do Kwon have filed a motion for summary judgment, arguing that the defendants didn't do anything wrong and the judge overseeing the case should make a ruling without moving the case forward to a trial. The lawyers claim that the SEC has failed to prove that the company offered securities after two years of investigation and extensive discovery.
The Terraform Labs founder. Do Kwon, has been sentenced to four months in prison as he faces extradition based on compliance with his sentence.
Do Kwon's final appeal to undo his incarceration in a Montenegrin prison was refused by a high court, leaving Terra's former CEO awaiting extradition rather than freedom.
The SEC has requested summary judgment against Terraform Labs (TFL) and Do Kwon in their lawsuit alleging violations of securities and exchange laws. The SEC argues that TFL and Do Kwon created and marketed crypto assets such as LUNA and UST as securities, violating securities laws and defrauding investors of $45 billion.
A Montenegro Higher Court upheld the verdict of the Basic Court against South Korean citizens Do Kwon and Han Chang-joon in June, sentencing them to four months imprisonment in a passport forgery lawsuit. Former Terra executives will also face extradition proceedings after the passport forgery case, with likely extradition to home country South Korea.
Do Kwon, the founder of Terraform Labs, has been sentenced to four months in prison by a Montenegrin court for falsifying documents. The decision follows an appeal by Kwon and fellow executive Han Chang-Joon, who were arrested in March 2022. The court's statement described the sentence as “adequate” punishment for the crime committed.
The founder of Terraform Labs was sentenced to four months in prison, and faces extradition following the completion of his sentence.
Binance just said they're going to help with the upgrade of Terra Classic (LUNC) network. This upgrade is set to happen around 12:00 on November 20, 2023, specifically at block height 15,493,370.
LUNC, the native token of Terra Classic, surged by a remarkable 45%, removing a zero from its price. This substantial market shift directly follows the approval of a crucial proposal by the Terra Classic community.
Terraform Labs, leading the Terra ecosystem, takes a bold step to recover from a catastrophic collapse by acquiring Pulsar Finance. This signals a strong comeback for Terra (LUNA), the cryptocurrency responsible, along with its stablecoin UST, for the 2022 crypto market crash.
As part of the deal, Pulsar Finance's flagship product Portfolio, will undergo integration into Terraform's Station, a cross-chain wallet.
Terra Classic's native token, LUNC, experiences an extraordinary surge, witnessing a 45% increase from $0.000064 to nearly eliminating one zero from its price. The catalyst behind this surge is the recent approval of a crucial proposal related to USTC minting. 98.
In a recent development, Terraform Labs has completed the acquisition of Pulsar Finance, a firm specializing in cross-chain analytics and portfolio management. The acquisition occurs as Terraform's former CEO Do Kwon remains incarcerated in Montenegro and a U.S. Securities and Exchange Commission (SEC) lawsuit alleging multi-billion dollar fraud hangs over his head.
Terraform Labs, renowned for developing the Terra blockchain, has unveiled its latest strategic move of acquiring Pulsar Finance, a startup specializing in cross-chain portfolio management and analytics. This significant development arrives amidst Terraform's ongoing legal confrontations, notably following the collapse of its algorithmic stablecoin TerraUSD last May.
The patient Terra Luna Classic (LUNC) holders gave a reason to smile with the token gaining value tremendously relative to August lows at $0.0000525. Recovery was initially slow but bulls regained more control over the trend after LUNC price broke above a multi-month descending trendline.
In a strategic move signaling a new direction for the company, Terraform Labs, the primary developer behind the Terra blockchain, has announced the acquisition of Pulsar Finance, a cross-chain portfolio management and analytics startup.
The Terraform Labs acquisition occurs amid ongoing legal battles, particularly with the SEC, over the collapse of TerraUSD last year.
Terraform Labs, leading developer of the Terra blockchain, today announced the acquisition of Pulsar Finance.
After navigating challenges, Terra Luna Classic's community embraces reform with a resounding vote, reshaping the future of its tokens.
Investors and enthusiasts are closely monitoring the implications of this proposal on the Terra Luna Classic ecosystem, contributing to the remarkable surge in the mentioned cryptocurrency prices. In a unanimous decision, the Terra Luna Classic community has approved a crucial proposal aiming to disable USTC minting.
The Terra Luna Classic community has unanimously passed the proposal to disable USTC minting and reminding through raising Tobin tax to 100%. The community and developers are making several efforts to repeg USTC, ultimately helping the revival of the Terra Luna Classic chain and LUNC token.
Story Highlights The live price of LUNA is . LUNA price might hit a maximum of 0.92 by the end of 2023. Terra LUNA 2.0 price with a potential surge could go as high as $4.59 by the end of 2030.
The crypto market is going up a lot, and one cryptocurrency, Terra Classic (LUNC), is really standing out. It went up by a big 55% in just one month, which is quite impressive.
The crypto market is seeing a big increase, and Terra Classic (LUNC) is doing well. Why is the LUNC price rising?
