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Terraform Labs has filed a motion against Citadel Securities seeking critical trading data for its defense in a lawsuit by the SEC. The case revolves around market destabilization allegations during the May 2022 Depeg event of TerraUSD stablecoin.
Do Kwon-founded Terraform Labs has once again blamed market maker Citadel Securities for its role in an alleged international effort to cause the depegging of its TerraUSD (UST) stablecoin.
The Terra Luna Classic community has taken a significant step by approving a proposal to burn a massive 800 million USTC. The proposal, put forth by a well-known member of the LUNC community named Vegas, suggested blacklisting the Ozone Protocol wallet, which held the 800 million USTC.
The Terra Luna Classic community has officially passed the proposal related to burning 800 million USTC. The proposal by popular LUNC community member Vegas proposed to blacklist Ozone Protocol wallet containing 800 million USTC, freezing the tokens rather than destroying them without authorization.
Terraform Labs has made serious accusations against Ken Griffin, the head of Citadel Securities, suggesting their potential role in de-pegging TerraUSD (UST). The move involves a legal action to compel Citadel Securities to provide critical data linked to this incident.
Last year in mid-2022, the Terra (LUNA) ecosystem faced a brutal collapse eroding $40 billion of investors' money. In an interesting revelation, Terraform Labs said that the massive de-peg of its UST stablecoin wasn't an algorithmic failure.
Terraform Labs alleges Citadel Securities played a role in the destabilization of its stablecoin, TerraUSD Classic, in May 2022. The firm is seeking trading data from Citadel to bolster its defense against SEC's fraud allegations.
Terraform Labs initiated a legal move on October 10, filing a motion in the U.S. District Court for the Southern District of Florida. Their aim is to compel Citadel Securities LLC to produce documents related to their trading activities during May 2022.
Terraform Labs has urged the judge to grant its motion to compel trading data from Citadel Securities, which it says had a hand in the collapse of USTC in May 2022.
Since the project was abandoned by its founder, Terra LUNA Classic price has been in a downward spiral. The constant selling pressure is diminishing the hopes of long-term investors for a miraculous recovery.
In the fast-paced world of cryptocurrencies, there's a remarkable phenomenon taking place at Binance, one of the world's leading cryptocurrency exchanges. Each week, an astonishing 400 million LUNC tokens are sent to the incinerator, never to see the light of day again.
After a week of notable declines in Terra Luna Classic (LUNC) value, the altcoin has sparked hopes of a potential revival. Recently, buyers have boldly capitalized on LUNC's price dip, establishing robust support and forcing the price into an upward correction.
The Terra Luna Classic community has now burned a total of 76 billion LUNC tokens, marking a significant achievement since May 18, 2022. Binance, the largest crypto exchange globally, has contributed more than half of this amount, burning nearly 38.81 billion LUNC tokens.
The total LUNC burned by the Terra Luna Classic community reaches 76 billion, hitting another milestone in the community's efforts to reduce the circulating supply of LUNC since May 18, 2022. The world's largest crypto exchange Binance has burned almost 38.81 billion LUNC, contributing over 50% to the total LUNC burned until now.
Under the influence of a falling channel pattern, the LUNC Coin price has witnessed a steady downtrend over the past seven months. The coin price reverted thrice from the upper trendline and five times from the lower trendline indicating the pattern's strong influence on the market participants.
In recent days, Terra Classic Coin has been going through a series of ups and downs, leaving many investors anxious about the fate of their investments. Let's dive into the recent developments in simpler terms to help a wider audience understand what's been happening.
In the ever-evolving world of cryptocurrency, Terra Classic coin has recently taken a significant plunge, leaving investors and enthusiasts alike pondering its future. Over the course of just one week, this digital asset has seen its value depreciate by a staggering 9.47%, now resting at a modest trading price of $0.000058.
Over the last seven weeks of consolidation, an ascending support trendline has consistently bolstered the LUNC price, spurring a potential relief rally. Even amidst heightened market volatility, this supportive structure has shielded investors from a deeper price regression.
In recent reports, traders and crypto enthusiasts are abuzz with anticipation as Terra Classic (LUNC) appears poised for a remarkable 50% surge in the near future. A trading setup shared by a user known as MyCryptoParadise on TradingView has captured the attention of many, shedding light on the cryptocurrency's potential for significant gains.
In the fast-paced world of cryptocurrencies, Terra Classic (LUNC) has seen its fortunes rise and fall dramatically over the past year. From reaching two billionaire market caps in quick succession to now teetering on the edge of the top 100 cryptocurrencies, LUNC's journey has been nothing short of a rollercoaster ride for crypto enthusiasts.
One year ago, Terra Classic (LUNC) saw two billionaire market cap new highs in a row. The first was $1 billion on September 1, 2022, followed by another $1.7 billion one week later.
Terra Classic's Retracement Reaches Crucial Demand Zone, Offering Potential Support for Bulls Unless BTC Falls Below $27,000. LUNC's Prolonged Downtrend Tests Crucial Support at Approximately $0.000060.
Terra LUNA Classic price has formed a falling wedge pattern. A breakout from the pattern may push LUNC crypto it towards $0.00011 level.
The price of Terra Classic (LUNC) has seen a decline of 3% throughout the preceding 24-hour period, resulting in its value dropping to $0.00005852. Consequently, this altcoin now occupies the 90th position in the hierarchy of cryptocurrency market capitalization rankings.
