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⭐️ Terra community to own chain after TFL wind-down; Coinbase exec slams SEC settlement
Terraform Labs CEO Chris Amani said Terra will become a community project as the company winds down following a $4.5 billion SEC settlement.
Amani wrote on June 12 that the community must “take over ownership of the chain.” He said that certain teams and developers want to handle the project and will announce their intent on the forums.
Amani added that Terraform Labs “always intended to dissolve” and can now do so.
He said the company was “well positioned to accelerate” if it had won the SEC case but no longer can operate because it lost the trial.
Terraform Labs will continue to operate its products during the wind-down period.
The company will sell Pulsar Finance, a cross-chain portfolio manager it acquired in late 2023, and two other products, Station Protocol and Enterprise Protocol.
Additionally, Amani announced that TFL will post a proposal to burn all of its unvested Luna. The firm will also propose to burn any vested crypto that it holds in its wallets.
🔸 Coinbase CLO slams settlement
The settlement has attracted attention elsewhere in the industry. Coinbase CEO Paul Grewal criticized the case’s outcome and highlighted its benefits for the SEC.
Grewal said the outcome “just makes the SEC an unsecured creditor,” meaning the agency will receive funds through Terraform Labs’ bankruptcy case. He added that the firm orders Terra’s co-founder and former CEO Do Kwon to “hand over $7 million of assets.”
🔸 Grewal said:
💬 “It’s predictably on-brand … There’s zero meaningful relief to fraud victims. This is no way to regulate.”
Meanwhile, Messari CEO Ryan Selkis also denounced the settlement amount and said it should go to a victims’ restitution fund over the SEC. He added that any other outcome should result in SEC Chair Gary Gary Gensler going “to prison for the rest of his life.”
#TERRA
Terraform Labs CEO Chris Amani said Terra will become a community project as the company winds down following a $4.5 billion SEC settlement.
Amani wrote on June 12 that the community must “take over ownership of the chain.” He said that certain teams and developers want to handle the project and will announce their intent on the forums.
Amani added that Terraform Labs “always intended to dissolve” and can now do so.
He said the company was “well positioned to accelerate” if it had won the SEC case but no longer can operate because it lost the trial.
Terraform Labs will continue to operate its products during the wind-down period.
The company will sell Pulsar Finance, a cross-chain portfolio manager it acquired in late 2023, and two other products, Station Protocol and Enterprise Protocol.
Additionally, Amani announced that TFL will post a proposal to burn all of its unvested Luna. The firm will also propose to burn any vested crypto that it holds in its wallets.
🔸 Coinbase CLO slams settlement
The settlement has attracted attention elsewhere in the industry. Coinbase CEO Paul Grewal criticized the case’s outcome and highlighted its benefits for the SEC.
Grewal said the outcome “just makes the SEC an unsecured creditor,” meaning the agency will receive funds through Terraform Labs’ bankruptcy case. He added that the firm orders Terra’s co-founder and former CEO Do Kwon to “hand over $7 million of assets.”
🔸 Grewal said:
💬 “It’s predictably on-brand … There’s zero meaningful relief to fraud victims. This is no way to regulate.”
Meanwhile, Messari CEO Ryan Selkis also denounced the settlement amount and said it should go to a victims’ restitution fund over the SEC. He added that any other outcome should result in SEC Chair Gary Gary Gensler going “to prison for the rest of his life.”
#TERRA
Terra Classic Price Forecast: Can the Burn Rate Propel LUNC to $0.001?
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Terra Classic price Forecast: LUNC shows stability above $0.00012, with increased trading volume and bullish sentiment driving investor interest.
HIGHLIGHTSLUNC shows a 1% rise, indicating a bullish short-term price trend.Increased trading volume signals strong buying interest in LUNC.A moderate burn rate supports TerraClassic's upward price momentum.
Terra Classic price forecast: LUNC has seen a modest increase in the price over the past 24 hours. The cryptocurrency is hovering above $0.00012, showing stability in its current trading range. Terra Classic price is trading at $0.0001206, with a surge of 1% in the past day.
This price movement has brought the market cap to approximately $698.84 million, ranking position 119th in the CoinMarketCap data. The 24-hour trading volume has also significantly risen, reaching $43.64 million, which indicates increased trading activity and interest in Terra Classic.
The current circulating supply of Terra Classic is 5.8 trillion LUNC, contributing to a total supply of 6.79 trillion LUNC. The Volume/Market cap ratio is 6.23%, highlighting the relative trading volume against its market cap.
The LUNC burn strategy contributes to its steady price rise, enhancing investor confidence and buying interest. Increased trading volume reflects strong buying interest, reinforcing LUNC’s bullish short-term price trend.
Terra Classic Price Forecast: LUNC Shows Stability Above $0.00012
LUNC has risen by 12% in the past month due to growing market optimism and renewed investor interest. However, the last week saw slight market corrections, with bulls and bears struggling for control.
The cryptocurrency traded between $0.00012 and $0.00011, indicating a volatile market sentiment.
#LUNC #USTC #LUNA #TERRA #Binance $LUNC $USTC $LUNA
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Terra Classic price Forecast: LUNC shows stability above $0.00012, with increased trading volume and bullish sentiment driving investor interest.
HIGHLIGHTSLUNC shows a 1% rise, indicating a bullish short-term price trend.Increased trading volume signals strong buying interest in LUNC.A moderate burn rate supports TerraClassic's upward price momentum.
Terra Classic price forecast: LUNC has seen a modest increase in the price over the past 24 hours. The cryptocurrency is hovering above $0.00012, showing stability in its current trading range. Terra Classic price is trading at $0.0001206, with a surge of 1% in the past day.
This price movement has brought the market cap to approximately $698.84 million, ranking position 119th in the CoinMarketCap data. The 24-hour trading volume has also significantly risen, reaching $43.64 million, which indicates increased trading activity and interest in Terra Classic.
The current circulating supply of Terra Classic is 5.8 trillion LUNC, contributing to a total supply of 6.79 trillion LUNC. The Volume/Market cap ratio is 6.23%, highlighting the relative trading volume against its market cap.
The LUNC burn strategy contributes to its steady price rise, enhancing investor confidence and buying interest. Increased trading volume reflects strong buying interest, reinforcing LUNC’s bullish short-term price trend.
Terra Classic Price Forecast: LUNC Shows Stability Above $0.00012
LUNC has risen by 12% in the past month due to growing market optimism and renewed investor interest. However, the last week saw slight market corrections, with bulls and bears struggling for control.
The cryptocurrency traded between $0.00012 and $0.00011, indicating a volatile market sentiment.
#LUNC #USTC #LUNA #TERRA #Binance $LUNC $USTC $LUNA
Terraport Hacked A Few Days After Launch
Terraport, a recently launched Terra Classic-based DeFi platform developed by TerraCVita, has been hacked and all of its liquidity has been drained. Terra Finder data shows almost $4 mln worth of Terra Classic (LUNC), TerraClassicUSD (USTC) and TERRA were drained. LUNC DAO, the renowned Terra Classic validator, drew attention to the unfortunate development today by sharing two transactions suggesting the protocol has drained all of its liquidity in LUNC, USTC and TERRA.
The first transaction shows the withdrawal of 9.1 mln TERRA worth about $1.8 mln and 15.1bln LUNC tokens worth $1.88 mln. All of these funds were withdrawn from the protocol's liquidity. The second transaction shows withdrawals of 576,736 TERRAs worth about $115,000 and 5.48 mln USTC, currently valued at $117,000.
ReXx, a prominent member of the Terra Classic community, revealed that a $124,000 portion of funds withdrawn to MEXC Global was frozen by the exchange following a warning. ReXx noted that it is working with other exchanges to freeze the remaining assets. RexX indicated that he had previously paid attention to the project's codebase, noting that they should pay for an audit from Certik. However, these calls were rejected. Community members questioned why the project was rolled out without a proper Certik audit.
#TERRA #LUNA #crypto2023 #crypto #hack
The first transaction shows the withdrawal of 9.1 mln TERRA worth about $1.8 mln and 15.1bln LUNC tokens worth $1.88 mln. All of these funds were withdrawn from the protocol's liquidity. The second transaction shows withdrawals of 576,736 TERRAs worth about $115,000 and 5.48 mln USTC, currently valued at $117,000.
ReXx, a prominent member of the Terra Classic community, revealed that a $124,000 portion of funds withdrawn to MEXC Global was frozen by the exchange following a warning. ReXx noted that it is working with other exchanges to freeze the remaining assets. RexX indicated that he had previously paid attention to the project's codebase, noting that they should pay for an audit from Certik. However, these calls were rejected. Community members questioned why the project was rolled out without a proper Certik audit.
#TERRA #LUNA #crypto2023 #crypto #hack
Who Is Chris Amani, the New Terraform Labs CEO?
The disgraced firm founded by Do Kwon, Terraform Labs, has found itself a new interim CEO. Chris Amani, who was the COO and CFO from January 2022, will now be responsible for steering Terraform into safer, and, hopefully, more prosperous waters.
Terraform Labs was the first and arguably the most consequential implosion of 2022. Its flagship project, the Terra (UST) stablecoin, and its sister token Luna (LUNA), spectacularly collapsed in the spring of that year.
New Terraform Labs Leadership Has Work Cut Out
When the company fell apart, the domino effect wiped out billions of dollars of value from the crypto markets in a matter of days.
Terra collapsed to zero in 2022, causing a further industry meltdown. Source: CoinMarketCap
In March 2023, Kwon attempted to travel to Dubai using falsified documents and was arrested in Montenegro. Subsequently, Kwon faced several charges, including securities fraud, commodities fraud, wire fraud, and conspiracy.
It later emerged that Kwon had sent a significant sum of money to a law firm before the collapse of TerraUSD. South Korea and the United States both seek his extradition.
Chris Amani: “We Have A Vision”
Prior to his involvement with Terra in December 2021, Amani served as the CEO of Humanity, a computer software firm specializing in employee scheduling software.
The choice of Amani to head the firm is something of a surprise. In the case of other stunning downfalls, companies rarely reach for replacements so close to the top.
Considering that Amani arrived so soon before the disaster began, the choice is even more of a head-scratcher. The first thing in his inbox: to clean up Do Kwon’s mess. On that score, Amani says he has a plan.
“We have a vision for how we could salvage this, even though I think it’s going to be hard and it’s going to take a long time,” he told the Wall Street Journal. However, details so far have been thin.
What do we definitely know? First of all, Terraform Labs 2.0 does not see stablecoins are part of the company’s value offer. A welcome sign for those burned by the Terra/Luna fiasco.
We Wish Do Kwon the Best, Says New CEO
Other than that, Amani is keeping tight-lipped. Like every other blockchain, Terraform Labs wants its continuing Terra product to provide “real utility.”
According to the WSJ interview with Amani, some 15 of the current employees of Terraform are from the days of the collapse. For his part, Amani has voiced a pragmatic attitude about how to move forward with the firm’s founder in jail.
On the topic of Do Kwon’s legal troubles, Amani said: “We wish Do the best, and we hope that he’s able to clear himself of all charges. But while he’s incarcerated and while he’s facing his own legal challenges, it just makes sense for us to continue on without him.”
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
#TERRA #LUNA #REXBOX #Binance #crypto2023
Terraform Labs was the first and arguably the most consequential implosion of 2022. Its flagship project, the Terra (UST) stablecoin, and its sister token Luna (LUNA), spectacularly collapsed in the spring of that year.
New Terraform Labs Leadership Has Work Cut Out
When the company fell apart, the domino effect wiped out billions of dollars of value from the crypto markets in a matter of days.
Terra collapsed to zero in 2022, causing a further industry meltdown. Source: CoinMarketCap
In March 2023, Kwon attempted to travel to Dubai using falsified documents and was arrested in Montenegro. Subsequently, Kwon faced several charges, including securities fraud, commodities fraud, wire fraud, and conspiracy.
It later emerged that Kwon had sent a significant sum of money to a law firm before the collapse of TerraUSD. South Korea and the United States both seek his extradition.
Chris Amani: “We Have A Vision”
Prior to his involvement with Terra in December 2021, Amani served as the CEO of Humanity, a computer software firm specializing in employee scheduling software.
The choice of Amani to head the firm is something of a surprise. In the case of other stunning downfalls, companies rarely reach for replacements so close to the top.
Considering that Amani arrived so soon before the disaster began, the choice is even more of a head-scratcher. The first thing in his inbox: to clean up Do Kwon’s mess. On that score, Amani says he has a plan.
“We have a vision for how we could salvage this, even though I think it’s going to be hard and it’s going to take a long time,” he told the Wall Street Journal. However, details so far have been thin.
What do we definitely know? First of all, Terraform Labs 2.0 does not see stablecoins are part of the company’s value offer. A welcome sign for those burned by the Terra/Luna fiasco.
We Wish Do Kwon the Best, Says New CEO
Other than that, Amani is keeping tight-lipped. Like every other blockchain, Terraform Labs wants its continuing Terra product to provide “real utility.”
According to the WSJ interview with Amani, some 15 of the current employees of Terraform are from the days of the collapse. For his part, Amani has voiced a pragmatic attitude about how to move forward with the firm’s founder in jail.
On the topic of Do Kwon’s legal troubles, Amani said: “We wish Do the best, and we hope that he’s able to clear himself of all charges. But while he’s incarcerated and while he’s facing his own legal challenges, it just makes sense for us to continue on without him.”
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
#TERRA #LUNA #REXBOX #Binance #crypto2023
Terraform Labs Challenges SEC Win in Fraud Lawsuit
Following a ruling against Terraform Labs and its co-founder Do Kwon in a fraud lawsuit, the company is considering the option of appealing the decision amid ongoing legal hurdles.
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On April 5, Terraform Labs and co-founder Do Kwon were found guilty by a Manhattan jury for defrauding investors, following SEC accusations. Terraform Labs plans to appeal the verdict, challenging the SEC’s jurisdiction and the jury’s decision. Additionally, Do Kwon faces further criminal charges in the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency.
Terraform Labs and Co-Founder Do Kwon Face Civil Verdict Over Fraud Allegations
A jury in Manhattan delivered a significant civil verdict on April 5, ruling against Terraform Labs and its co-founder Do Kwon for defrauding clients. The allegations stemmed from charges brought forth by the US Securities and Exchange Commission (SEC), marking a notable development in the ongoing scrutiny of the cryptocurrency industry.
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The accusations centered around purportedly misleading investors about the stability of the UST stablecoin and making false claims regarding the utilization of their technology in the Korean payment system, Chai.
Following the verdict, Terraform Labs publicly expressed disagreement with the jury’s decision, contending that the case lacked clear arguments necessary for the jury’s determination. Moreover, they challenged the SEC’s authority to pursue the action.
The company announced its intention to carefully deliberate on the next course of action, hinting at the possibility of pursuing an appeal for support. This stance underscores the company’s resolute defense against the accusations and its steadfast commitment to contesting the legal outcomes.
Also Read: Optimism (OP): Buy Signal Indicates 26% Price Rally?
SEC Hails Verdict Against Terraform Labs as a Win for Investor Protection
Gurbir Grewal, Director of the SEC Enforcement Division, responded positively to the verdict, emphasizing the importance of regulatory compliance within the crypto industry. He highlighted the case as a glaring example of the significant losses incurred by investors due to the actions of Terraform Labs. Grewal’s remarks underscore the SEC’s vital role as a guardian of retail investors and the broader market. The judgment is intended to serve as a deterrent to other crypto entities, cautioning them against engaging in fraudulent practices.
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The SEC’s case against Terraform Labs aligns with its ongoing efforts to regulate the crypto market effectively. This ruling contributes to the formulation of future regulations and fosters investor confidence. The SEC aims to proactively combat fraud and enhance public awareness of the rapidly evolving cryptocurrency landscape. Consequently, the outcome of this case could shape future regulatory approaches in the crypto sphere for an extended period.
Legal Woes Mount for Do Kwon Amidst Terra’s LUNA Crypto Crash
In addition to the SEC lawsuit, Do Kwon faces criminal charges in both the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency. These charges signify a deeper legal entanglement for Kwon, extending beyond civil proceedings.
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The extradition proceedings involving Kwon have encountered delays in Montenegro, where initial approval for extradition was later stayed by the Supreme Court. As a result, Kwon’s fate now rests with the Ministry of Justice, which will determine the next course of action.
Also Read: Bitcoin's Long-Term Fate: Divergent Analyst Predictions
This legal saga has garnered international attention, casting a shadow over Terraform Labs and its global community. The uncertainty surrounding Kwon’s legal battles reverberates across the crypto sphere, underscoring the gravity of the situation for all involved parties.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#LUNC #USTC #TERRA #Dokown #BullorBear $USTC $LUNC $SOL
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On April 5, Terraform Labs and co-founder Do Kwon were found guilty by a Manhattan jury for defrauding investors, following SEC accusations. Terraform Labs plans to appeal the verdict, challenging the SEC’s jurisdiction and the jury’s decision. Additionally, Do Kwon faces further criminal charges in the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency.
Terraform Labs and Co-Founder Do Kwon Face Civil Verdict Over Fraud Allegations
A jury in Manhattan delivered a significant civil verdict on April 5, ruling against Terraform Labs and its co-founder Do Kwon for defrauding clients. The allegations stemmed from charges brought forth by the US Securities and Exchange Commission (SEC), marking a notable development in the ongoing scrutiny of the cryptocurrency industry.
Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On ChikaMoji.lol
The accusations centered around purportedly misleading investors about the stability of the UST stablecoin and making false claims regarding the utilization of their technology in the Korean payment system, Chai.
Following the verdict, Terraform Labs publicly expressed disagreement with the jury’s decision, contending that the case lacked clear arguments necessary for the jury’s determination. Moreover, they challenged the SEC’s authority to pursue the action.
The company announced its intention to carefully deliberate on the next course of action, hinting at the possibility of pursuing an appeal for support. This stance underscores the company’s resolute defense against the accusations and its steadfast commitment to contesting the legal outcomes.
Also Read: Optimism (OP): Buy Signal Indicates 26% Price Rally?
SEC Hails Verdict Against Terraform Labs as a Win for Investor Protection
Gurbir Grewal, Director of the SEC Enforcement Division, responded positively to the verdict, emphasizing the importance of regulatory compliance within the crypto industry. He highlighted the case as a glaring example of the significant losses incurred by investors due to the actions of Terraform Labs. Grewal’s remarks underscore the SEC’s vital role as a guardian of retail investors and the broader market. The judgment is intended to serve as a deterrent to other crypto entities, cautioning them against engaging in fraudulent practices.
Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On ChikaMoji.lol
The SEC’s case against Terraform Labs aligns with its ongoing efforts to regulate the crypto market effectively. This ruling contributes to the formulation of future regulations and fosters investor confidence. The SEC aims to proactively combat fraud and enhance public awareness of the rapidly evolving cryptocurrency landscape. Consequently, the outcome of this case could shape future regulatory approaches in the crypto sphere for an extended period.
Legal Woes Mount for Do Kwon Amidst Terra’s LUNA Crypto Crash
In addition to the SEC lawsuit, Do Kwon faces criminal charges in both the US and South Korea related to the collapse of Terra’s LUNA cryptocurrency. These charges signify a deeper legal entanglement for Kwon, extending beyond civil proceedings.
Claim Instant 100,000 Chika Tokens $100 Free New Memecoin , Claim Airdrop Now On ChikaMoji.lol
The extradition proceedings involving Kwon have encountered delays in Montenegro, where initial approval for extradition was later stayed by the Supreme Court. As a result, Kwon’s fate now rests with the Ministry of Justice, which will determine the next course of action.
Also Read: Bitcoin's Long-Term Fate: Divergent Analyst Predictions
This legal saga has garnered international attention, casting a shadow over Terraform Labs and its global community. The uncertainty surrounding Kwon’s legal battles reverberates across the crypto sphere, underscoring the gravity of the situation for all involved parties.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#LUNC #USTC #TERRA #Dokown #BullorBear $USTC $LUNC $SOL
The previous poll gave us the topic of this new article 🚀 !
The History of #LUNC !
Let us dive into the history of #LUNA and #TERRA and learn about its origins, their differences and their founders.
#BinanceTournament #Binance
The History of #LUNC !
Let us dive into the history of #LUNA and #TERRA and learn about its origins, their differences and their founders.
#BinanceTournament #Binance
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Terra Luna Classic will host AMA at X on February 15
Terra Luna Classic will host a Q&A session at X on February 15th at 15:00 UTC. The discussion will focus on various aspects of cryptocurrency.
You can find more detailed information in the official LUNC tweet
Terra is a blockchain protocol for global payment systems that uses stablecoins pegged to fiat currency.
#TerraLunaClassic #TERRA #LUNC #LUNC/USDT #Write2Earn
$LUNC
Terra Luna Classic will host a Q&A session at X on February 15th at 15:00 UTC. The discussion will focus on various aspects of cryptocurrency.
You can find more detailed information in the official LUNC tweet
Terra is a blockchain protocol for global payment systems that uses stablecoins pegged to fiat currency.
#TerraLunaClassic #TERRA #LUNC #LUNC/USDT #Write2Earn
$LUNC
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The trial of the ex-head of Terra in the United States was postponed to March
A New York court has postponed the start of the fraud trial of TerraForm Labs (TFL) founder Do Kwon from January 29 to March 25. The entrepreneur is currently in custody in Montenegro, and, according to his lawyer, will not be extradited until February or March. The lawyer added that Kwon is “making every effort to extradite as quickly as possible,” but the process is complicated by legal procedures and the fact that the businessman is serving a sentence in Montenegro on local charges.
Court statement
#TERRA #Terra.Classic #TerraLunaClassic #TerraClassic
$LUNC
A New York court has postponed the start of the fraud trial of TerraForm Labs (TFL) founder Do Kwon from January 29 to March 25. The entrepreneur is currently in custody in Montenegro, and, according to his lawyer, will not be extradited until February or March. The lawyer added that Kwon is “making every effort to extradite as quickly as possible,” but the process is complicated by legal procedures and the fact that the businessman is serving a sentence in Montenegro on local charges.
Court statement
#TERRA #Terra.Classic #TerraLunaClassic #TerraClassic
$LUNC
🔔$LUNCLadies and gentlemen, the time to enter Lunc is now❗ After such an opportunity, it is not expected🚫 I myself transferred almost all my assets to Lunc. In the next article, I will tell you why I think so and why I am confident in Lunc 👀
#LUNC #TERRA #TerraClassic #BTC🔥🔥 #Ethereum2025
#LUNC #TERRA #TerraClassic #BTC🔥🔥 #Ethereum2025
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Terraform Labs files for Chapter 11 bankruptcy in Delaware
Terraform Labs Pte. Lieutenant. filed for Chapter 11 bankruptcy in the Delaware County Bankruptcy Court on Jan. 21, according to the court's website.
The company's liabilities are estimated to range from $100 million to $500 million, and the volume of its assets lies in the same range, Bloomberg reports.
Terraform Labs is the company behind the algorithmic stablecoin TerraUSD and its sister cryptocurrency Luna, both of which collapsed in May 2022. The U.S. Securities and Exchange Commission charged the firm and then-CEO Kwon Do-hyun with fraud in February 2023.
Kwon was arrested last March in Montenegro for attempting to travel with false documents. The former head of Terra LUNA, -4.84% is awaiting extradition from the country, and the U.S. District Court for the Southern District of New York postponed the SEC's lawsuit against Terraform and Kwon until late March at Kwon's request.
#TERRA #TerraLunaClassic #TerraClassic #Terra.Classic #LUNC
$LUNC $LUNA
Terraform Labs Pte. Lieutenant. filed for Chapter 11 bankruptcy in the Delaware County Bankruptcy Court on Jan. 21, according to the court's website.
The company's liabilities are estimated to range from $100 million to $500 million, and the volume of its assets lies in the same range, Bloomberg reports.
Terraform Labs is the company behind the algorithmic stablecoin TerraUSD and its sister cryptocurrency Luna, both of which collapsed in May 2022. The U.S. Securities and Exchange Commission charged the firm and then-CEO Kwon Do-hyun with fraud in February 2023.
Kwon was arrested last March in Montenegro for attempting to travel with false documents. The former head of Terra LUNA, -4.84% is awaiting extradition from the country, and the U.S. District Court for the Southern District of New York postponed the SEC's lawsuit against Terraform and Kwon until late March at Kwon's request.
#TERRA #TerraLunaClassic #TerraClassic #Terra.Classic #LUNC
$LUNC $LUNA
TERRA LUNA PRICE ANALYSIS: Bulls ready to roar
After a consistent decline over the past seven months, the price of #LUNC finally broke through a significant resistance level on July 13th. This resistance, which had been exerting pressure on buyers, took the form of a downward sloping trendline within a wedge pattern. This breakthrough indicates an early indication of a trend reversal. As a result, coin holders can now anticipate several potential price targets based on this setup.
Following the breakout, the price of LUNC has experienced a remarkable surge of 12% over the past three days. As of the present moment, the altcoin is trading at $0.0000940. The subsequent rally has been accompanied by a significant increase in trading volume, indicating a strong conviction among buyers in the market.
The LUNC price currently encounters resistance at $0.00009700, with a significant obstacle at $0.00010200. A decisive breakthrough above $0.00010200 could signal the start of a substantial uptrend, potentially leading to a rise towards $0.00010500. Further upward movement might even pave the way for the price to reach the resistance level of $0.00011500.
However, if the $0.00009700 barrier proves to be insurmountable, a downward trend may ensue. Initial support can be found at $0.0000900, followed by a more substantial support level at $0.00008700. Should the price fall below $0.00008700, it could continue its decline towards the $0.00008300 support level. Further losses may intensify selling pressure, potentially causing the price to drop below $0.00008000.
According to Coingabbar Price Analysis, The market capitalization of this LUNC is estimated to be $539,967,389. The 24-hour trading volume for the coin is around $99,012,523.
KEY LEVELS :
RESISTANCE LEVEL : $0.00009600-$0.00010200
SUPPORT LEVEL : $0.00009000-$0.00008600
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
#GOATMoments #TERRA #Binanceturns6 #coingabbar $LUNC $LUNA
Following the breakout, the price of LUNC has experienced a remarkable surge of 12% over the past three days. As of the present moment, the altcoin is trading at $0.0000940. The subsequent rally has been accompanied by a significant increase in trading volume, indicating a strong conviction among buyers in the market.
The LUNC price currently encounters resistance at $0.00009700, with a significant obstacle at $0.00010200. A decisive breakthrough above $0.00010200 could signal the start of a substantial uptrend, potentially leading to a rise towards $0.00010500. Further upward movement might even pave the way for the price to reach the resistance level of $0.00011500.
However, if the $0.00009700 barrier proves to be insurmountable, a downward trend may ensue. Initial support can be found at $0.0000900, followed by a more substantial support level at $0.00008700. Should the price fall below $0.00008700, it could continue its decline towards the $0.00008300 support level. Further losses may intensify selling pressure, potentially causing the price to drop below $0.00008000.
According to Coingabbar Price Analysis, The market capitalization of this LUNC is estimated to be $539,967,389. The 24-hour trading volume for the coin is around $99,012,523.
KEY LEVELS :
RESISTANCE LEVEL : $0.00009600-$0.00010200
SUPPORT LEVEL : $0.00009000-$0.00008600
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
#GOATMoments #TERRA #Binanceturns6 #coingabbar $LUNC $LUNA
Terra Price Loses Steam after Rebound: A Bearish Reversal Soon?
Terra crypto price could not restore the bullish zone even after struggling for the past two weeks after a sharp fall earlier. The price was unable to climb into the $0.8 zone despite the multiple attempts of bulls in the recent sessions.
Moreover, the bulls have not lost hopes yet and are shifting the recent lows higher than the preceding lows, thus, intending to defend the previous one. The price experienced multiple support from a positive trendline and an ascending triangle pattern was noted on the charts.
The bears have established themselves near an upper supply zone at $0.8 and are intending to retrace the price at lower demand zones. The price trend is currently indecisive until it is maintained in the zone.
However, the crypto is reaching a crucial zone form where either of the bulls or bears have to square off their positions and a fresh trend might be noted on the four hour chart.
Terra Crypto Price Trend Analysis
The weekly chart suggests that Terra crypto price suffered rejection from the upper levels while attempting to surpass a round number and the psychological level of $1. The price fell sharply for three weeks, losing nearly 40% of its market cap in a very short span.
The price reversed from a high of $1.3 and retraced a low of $0.5 in the beginning of January 2024 from where the bulls took charge and halted the further momentum. The recent dip sent the price to a two month low.
Currently, the bulls are attempting but lacking buying volumes in order to counter the selling pressure and push the price back to the bullish zone. At the four hour chart a fresh ascending triangle pattern is observed.
Now, the breakdown to the upper side may encourage buyers to gather more buying volume and challenge the sellers at the upper levels.
On the other side, the recent trendline support might be the last hope for buyers to be in the game. A break below it may trigger stop losses of the buyers and the price may slide to the lower demand zones.
Terra Price Prediction January 2024
As per the most optimistic view of our analysts, the LUNA price could reach a high of $0.883 by the end of the month. The bearish view of analysts hopes for a breakdown below the recent support after which the price may drop to a low of $0.6337.
Terra Price Prediction 2024
The price prediction for 2024 shows that Terra crypto may advance to a high of $1.1801 by the end of year 2024. The less optimistic analysts estimate a price target of $0.961 by the end of year 2024.
Terra Price Prediction 2025
On the most bullish observation, Terra crypto could gain to a high of $1.6487 in the year 2025. On the flip side, the most pessimistic prediction of our analysts is for the price to reach $1.2644.
$LUNA #LUNA #TERRA
Moreover, the bulls have not lost hopes yet and are shifting the recent lows higher than the preceding lows, thus, intending to defend the previous one. The price experienced multiple support from a positive trendline and an ascending triangle pattern was noted on the charts.
The bears have established themselves near an upper supply zone at $0.8 and are intending to retrace the price at lower demand zones. The price trend is currently indecisive until it is maintained in the zone.
However, the crypto is reaching a crucial zone form where either of the bulls or bears have to square off their positions and a fresh trend might be noted on the four hour chart.
Terra Crypto Price Trend Analysis
The weekly chart suggests that Terra crypto price suffered rejection from the upper levels while attempting to surpass a round number and the psychological level of $1. The price fell sharply for three weeks, losing nearly 40% of its market cap in a very short span.
The price reversed from a high of $1.3 and retraced a low of $0.5 in the beginning of January 2024 from where the bulls took charge and halted the further momentum. The recent dip sent the price to a two month low.
Currently, the bulls are attempting but lacking buying volumes in order to counter the selling pressure and push the price back to the bullish zone. At the four hour chart a fresh ascending triangle pattern is observed.
Now, the breakdown to the upper side may encourage buyers to gather more buying volume and challenge the sellers at the upper levels.
On the other side, the recent trendline support might be the last hope for buyers to be in the game. A break below it may trigger stop losses of the buyers and the price may slide to the lower demand zones.
Terra Price Prediction January 2024
As per the most optimistic view of our analysts, the LUNA price could reach a high of $0.883 by the end of the month. The bearish view of analysts hopes for a breakdown below the recent support after which the price may drop to a low of $0.6337.
Terra Price Prediction 2024
The price prediction for 2024 shows that Terra crypto may advance to a high of $1.1801 by the end of year 2024. The less optimistic analysts estimate a price target of $0.961 by the end of year 2024.
Terra Price Prediction 2025
On the most bullish observation, Terra crypto could gain to a high of $1.6487 in the year 2025. On the flip side, the most pessimistic prediction of our analysts is for the price to reach $1.2644.
$LUNA #LUNA #TERRA
Terra (LUNA) Sees Major Upgrade, Here's What's New
Terra, the blockchain that underpins the LUNA cryptocurrency, has received a new upgrade. An official upgrade to v2.3.1 occurred some hours ago, and blocks are currently being produced. The new upgrade includes a variety of new additions, including Alliance.
Alliance, an open-source Cosmos SDK module, uses interchain staking to let blockchains build economic alliances. By gaining users, liquidity and developers, increasing staking yield, and guiding monetary policy (L1 token inflation and fees) toward encouraging desired user behaviors, chains like Terra's can enhance their decentralized economy through integration.
Also, proposal 4717 to upgrade Terra Core to v2.3.0 has passed. This chain-halting upgrade would support the integration of the Alliance module on the Terra mainnet.
The new Alliance module and other improvements were integrated as part of Terra's upgrade on Pisco (its testnet chain) on March 21, 2023. Following the UST depeg that caused its ecosystem to collapse in May 2022, Terra has continued to develop. However, it can take some time for the ecosystem to recover its previous splendor because of obstacles like legal hurdles and other factors.
Do Kwon, Terra co-founder, was detained in Montenegro late last month while attempting to board a private plane at an airport in Podgorica, the country's capital, according to South Korean authorities. Prosecutors in Montenegro have reportedly handed indictments to the Terra co-founder following his arrest.
#Binance #crypto2023 #TERRA #luna #keepbuilding
Alliance, an open-source Cosmos SDK module, uses interchain staking to let blockchains build economic alliances. By gaining users, liquidity and developers, increasing staking yield, and guiding monetary policy (L1 token inflation and fees) toward encouraging desired user behaviors, chains like Terra's can enhance their decentralized economy through integration.
Also, proposal 4717 to upgrade Terra Core to v2.3.0 has passed. This chain-halting upgrade would support the integration of the Alliance module on the Terra mainnet.
The new Alliance module and other improvements were integrated as part of Terra's upgrade on Pisco (its testnet chain) on March 21, 2023. Following the UST depeg that caused its ecosystem to collapse in May 2022, Terra has continued to develop. However, it can take some time for the ecosystem to recover its previous splendor because of obstacles like legal hurdles and other factors.
Do Kwon, Terra co-founder, was detained in Montenegro late last month while attempting to board a private plane at an airport in Podgorica, the country's capital, according to South Korean authorities. Prosecutors in Montenegro have reportedly handed indictments to the Terra co-founder following his arrest.
#Binance #crypto2023 #TERRA #luna #keepbuilding
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Cryptocurrencies Terra and TerraUSD recognized as securities
The Federal District Court for the Southern District of New York recognized the Terra (LUNA) and TerraUSD (UST) cryptocurrencies issued by the startup Terraform Labs as securities.
Judge Jed Rakoff made the verdict in a case against Terraform Labs, which the U.S. Securities and Exchange Commission accuses of trading unregistered securities. By assigning this status to Terra and TerraUSD, Rakoff sided with the regulator and actually found the coin issuer guilty of illegally selling securities.
On January 29, they plan to select a jury who will determine whether Terraform Labs founder Do Kwon deceived clients by convincing them of the reliability of the algorithmic stablecoin TerraUSD.
#TERRA #terrausd
The Federal District Court for the Southern District of New York recognized the Terra (LUNA) and TerraUSD (UST) cryptocurrencies issued by the startup Terraform Labs as securities.
Judge Jed Rakoff made the verdict in a case against Terraform Labs, which the U.S. Securities and Exchange Commission accuses of trading unregistered securities. By assigning this status to Terra and TerraUSD, Rakoff sided with the regulator and actually found the coin issuer guilty of illegally selling securities.
On January 29, they plan to select a jury who will determine whether Terraform Labs founder Do Kwon deceived clients by convincing them of the reliability of the algorithmic stablecoin TerraUSD.
#TERRA #terrausd
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REXBOX – Is Terra Luna Classic Dead? Will LUNC Make a Comeback, Or Keep Trending Down To Zero?
In the world of cryptocurrency, two distinct tokens have been making headlines lately - Terra Luna Classic (LUNC) and Wall Street Memes (WSM). Let's take a closer look at their journeys and what lies ahead.
Terra Luna Classic (LUNC): A Struggle for Recovery
Over the last six months, Terra Luna Classic (LUNC) has experienced a consistent downward trend. This decline has been driven by a descending channel pattern, characterized by lower highs and lows. Market sentiment seemed to favor selling during attempts at bullish rebounds. In mid-July, LUNC entered a correction trend, leading to a significant drop in its market value. From a peak of $0.0000096, the price fell to a low of $0.0000052. Interestingly, this decline matched the lower boundary of the falling channel, sparking hopes of a potential reversal.
However, in mid-August, intense selling pressure pushed LUNC from $0.0000658 to $0.0000523. This abrupt decrease prompted a crucial test of the support trendline within the descending channel pattern. Currently, LUNC's price stands at $0.000062, showing a 1.61% increase in the last 24 hours. Yet, over the past week, the token's price has dropped by 5.56%. With its market cap now below $400 million, around $360 million, and a significant 88.95% surge in 24-hour trading volume, LUNC faces challenges.
Looking at the technicals, today's pivotal point (P1) for Terra Luna Classic is $0.0000624. Key support levels are at $0.0000620, $0.0000617, and the strongest at $0.0000613. Resistance levels are positioned at $0.0000627, $0.0000630, and $0.0000634. A bearish trend might emerge if the price continues to drop after breaking the $0.0000613 support level. Some traders and experts anticipate a trading range of $0.0000622 to $0.0000635 for 2023, with a potential price around $0.000071 in the following year.
Considering recent challenges, including network upgrades, development setbacks, and governance debates, LUNC's decline this year has been evident. It's faced a setback this week when the Terra official Twitter account warned against a potentially compromised domain, eroding trust in LUNC and its ecosystem. The unresolved issue compounds the problem, potentially hindering recovery from recent losses.
A proposal to burn 800 million USTC (the associated stablecoin) has gained traction, sparking hopes for LUNC and USTC. This burn might ignite a positive turn, but significant movements still loom. The best-case scenario for the next few weeks is a recovery to $0.0000751, though challenges persist.
Conclusion
Terra Luna Classic's struggle and Wall Street Memes' ascent illustrate the dynamic nature of the crypto world. As LUNC grapples with challenges, WSM shines with its innovative approach and celebrity backing. While the road ahead for both tokens remains uncertain, they exemplify the diverse landscape of digital currencies.
$LUNC #TERRA $LUNA
Terra Luna Classic (LUNC): A Struggle for Recovery
Over the last six months, Terra Luna Classic (LUNC) has experienced a consistent downward trend. This decline has been driven by a descending channel pattern, characterized by lower highs and lows. Market sentiment seemed to favor selling during attempts at bullish rebounds. In mid-July, LUNC entered a correction trend, leading to a significant drop in its market value. From a peak of $0.0000096, the price fell to a low of $0.0000052. Interestingly, this decline matched the lower boundary of the falling channel, sparking hopes of a potential reversal.
However, in mid-August, intense selling pressure pushed LUNC from $0.0000658 to $0.0000523. This abrupt decrease prompted a crucial test of the support trendline within the descending channel pattern. Currently, LUNC's price stands at $0.000062, showing a 1.61% increase in the last 24 hours. Yet, over the past week, the token's price has dropped by 5.56%. With its market cap now below $400 million, around $360 million, and a significant 88.95% surge in 24-hour trading volume, LUNC faces challenges.
Looking at the technicals, today's pivotal point (P1) for Terra Luna Classic is $0.0000624. Key support levels are at $0.0000620, $0.0000617, and the strongest at $0.0000613. Resistance levels are positioned at $0.0000627, $0.0000630, and $0.0000634. A bearish trend might emerge if the price continues to drop after breaking the $0.0000613 support level. Some traders and experts anticipate a trading range of $0.0000622 to $0.0000635 for 2023, with a potential price around $0.000071 in the following year.
Considering recent challenges, including network upgrades, development setbacks, and governance debates, LUNC's decline this year has been evident. It's faced a setback this week when the Terra official Twitter account warned against a potentially compromised domain, eroding trust in LUNC and its ecosystem. The unresolved issue compounds the problem, potentially hindering recovery from recent losses.
A proposal to burn 800 million USTC (the associated stablecoin) has gained traction, sparking hopes for LUNC and USTC. This burn might ignite a positive turn, but significant movements still loom. The best-case scenario for the next few weeks is a recovery to $0.0000751, though challenges persist.
Conclusion
Terra Luna Classic's struggle and Wall Street Memes' ascent illustrate the dynamic nature of the crypto world. As LUNC grapples with challenges, WSM shines with its innovative approach and celebrity backing. While the road ahead for both tokens remains uncertain, they exemplify the diverse landscape of digital currencies.
$LUNC #TERRA $LUNA
