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Terra Luna Classic core developer L1 Terra Classic Task Force (L1TF) shared updates on the progress and direction of its plan to focus on reducing USTC and LUNC supply in Q3. The developer group is preparing for a major core upgrade v2.2.0 to make several improvements in the Terra Luna Classic blockchain while resolving issues
Recent findings indicate that Terraforms Labs and its co-founder Do Kwon are transferring Bitcoin and other digital currencies worth a significant amount. This action has sparked curiosity among experts who wonder if Kwon is gathering funds for legal defenses.
Although there have been recent attempts to align Terra Classic (LUNC), the rebranded native cryptocurrency of the disgraced Terra (LUNA) ecosystem, with other crypto projects and blockchains, the total value locked (TVL) on its network is continuously declining.
In the realm of digital assets, a seismic shift has rattled the Terra Luna Classic (LUNC) ecosystem, as infrastructure heavyweight Fireblocks made a decisive move. Announced on August 8 by the LUNC DAO, several digital asset infrastructure providers, including Fireblocks, have opted to cease support for Terra Luna Classic.
Digital asset infrastructure providers such as Fireblocks announces to stop supporting Terra Luna Classic (LUNC), adding another challenge for LUNC community to revive the ecosystem. The companies have cited many reasons that pose a high risk of loss of funds and overall instability.
In a series of significant developments, Terraform Labs (TFL) and its co-founder Do Kwon have been involved in Bitcoin transactions worth millions, raising eyebrows and attracting regulatory attention. On-chain data has revealed movement of substantial amounts of BTC linked to Luna Foundation Guard (LFG), and the US Securities and Exchange Commission (SEC) has filed a lawsuit, adding to the legal woes faced by the cryptocurrency firm.
Terra Luna Classic proposals 11658 and 11660 to return and burn 800 million USTC have officially passed by the community. The community favors sending these USTC tokens to the burn address rather than returning them to the community pool.
Terraform Labs (TFL) and co-founder Do Kwon have moved Bitcoin and other crypto assets worth millions in the past few months. Do Kwon's affiliates have started selling BTC linked to Luna Foundation Guard after transferring 5292 bitcoins to another wallet last month, according to on-chain data confirmed by a South Korean news outlet.
Terra LUNA Classic Price Prediction: The sideways price action of LUNC crypto must not be ignored. A reclaim of $0.000080 will be very bullish.
Founder of Terraform Labs, Do Kwon, moves large amounts of BTC while imprisoned in Montenegro — accomplices in control of bitcoins.
LUNC's staking ratio has declined of late, meaning that stakers were unstaking their holdings.
In a resounding chorus of unity, Proposal 271 has etched its name in the annals of blockchain history, securing an awe-inspiring 99.98% majority in favor of reinstating inter-blockchain communication (IBC) between Terra Luna Classic and Crescent. This groundbreaking decision not only illuminates the indomitable spirit of the community but also stands as a shining testament to the unwavering commitment to innovation amidst the tempestuous tides of market fluctuations.
LUNC News: The community has unanimously voted in favor of a proposal to re-enable inter-blockchain communication (IBC) transfers between Crescent and Terra Luna Classic. Professor Edward Kim earlier announced the reopening IBCs for Osmosis, Crescent, and Juno that were disabled during the May 2022 Terra-LUNA crisis.
Do Kwon – the nefarious founder of the now failed stable coin company Terraform Labs – will spend the next four months behind bars in Montenegro after he was detained at one of the nation's airports with forged documents and phony passports.
A LUNC bounce to the $0.000084 level seemed unlikely, but could also present an ideal trading opportunity.
Stablecoin issuer Terraform Labs' motion to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC) was denied by a federal judge on Monday. The judge also said he rejected the use of a ruling from Judge Analisa Torres who ruled that Ripple did not violate securities law in selling XRP to retail investors through an exchange intermediary.
Terra Rebels developer group and its spinoff Hexxagon want to clear the air and move forward with strengthening the Terra Luna Classic community and continue building on the chain. Terra Luna Classic core developer Joint L1 Task Force (L1TF) recent partnership with Hexxaon for building and managing a community-owned wallet caused renewed FUD in the
The Terra Classic community has been fervently focused on revitalizing the USTC stablecoin, with several revival plans put forth by different members. The latest proposal, submitted by community member Afzal, has garnered significant attention and sparked discussions within the community.
LUNC's community has worked continually towards reviving the ecosystem's native LUNC token. However, recent data from this artificial intelligence (AI) algorithm suggests these efforts might not be enough.
The judge overseeing the FTX bankruptcy case granted Terraform Labs permission to request relevant information from the exchange as part of their defense against the U.S. Securities and Exchange Commission (SEC) allegations.
Leading cryptocurrency trading platform Binance has recently burned a substantial 1.4 billion tokens of the Terra Classic ecosystem ($LUNC) during its twelfth burning batch, effectively removing a large number of tokens from circulation.
On July 31, a U.S. judge overseeing the case denied Terraform Labs' motion to dismiss a lawsuit filed by the United States Securities and Exchange Commission (SEC). The lawsuit, filed on February 16, accuses Terraform Labs and its founder, Do Kwon, of orchestrating a multi-billion dollar crypto asset securities fraud.
Terra Luna Classic (LUNC), a prominent cryptocurrency project, has been making exciting developments in its governance and decentralization efforts. The Joint L1 Task Force (L1TF), a core developer group, recently obtained admin access to the Commonwealth forum, a crucial step in enhancing community participation and ownership within the ecosystem.
For over a week, the LUNC coin price has been hovering above the multi-month support of $0.00000792 and $0.00000784. Amid the increasing selling pressure in the crypto market, buyers are struggling to rebound to higher levels indicating a weakness in bullish momentum.
