Luna Classic (Former Terra)

Luna Classic (LUNC) is the native token of the original Terra blockchain, which was launched in 2018. Previously, there was an exchange relationship between LUNC and UST, an algorithmic "stablecoin" intended to have a constant value of $1. After UST depegged from $1 in May 2022, the price of LUNA and UST crashed. As a result, the Terra community voted to create a new blockchain. The original Terra blockchain and LUNA token were rebranded as Terra Classic and Luna Classic. The goal of Terraform Labs, the firm that developed the new and old Terra blockchains, is that the protocols and applications of the Terra Classic network will migrate to the new Terra 2 blockchain. As of June 2022, the future utility of the original Terra blockchain is uncertain.

Terra

The US Securities and Exchange Commission (SEC) has added additional documents to its lawsuit against Terraform Labs and its CEO Do Kwon.

SEC Hints at Appeal for XRP Case in Lawsuit Against Terraform Labs

SEC lawyers told a federal judge that portions of the Ripple Labs case that went against the agency were wrong and should be ignored.

SEC lawyers preview likely Ripple appeal in case against Do Kwon

Terraform Labs appointed a new chief executive officer following Do Kwon's resignation on March 31, 2023. In a Wall Street Journal interview, the interim CEO, Chris Amani, discussed his team's “vision” for rescuing the beleaguered blockchain project.

Terraform Labs Appoints New CEO While Co-Founder Remains in Jail

Terraform Labs is asking a court to allow it to subpoena certain information about accounts, wallets and assets from bankrupt exchange FTX.

Terraform Labs wants to subpoena info from FTX to aid its SEC defense

Terraform Labs has appointed a new interim CEO, Chris Amani, amid the ongoing legal troubles of its co-founder, Do Kwon. What Happened: Amani, previously the company's COO and CFO, is stepping in to lead the crypto firm during this challenging time, The Wall Street Journal reported.

Terraform Labs Names New CEO With Hopes To Revive Terra Blockchain Amid Legal Woes

Law enforcement officials in Switzerland reportedly seized approximately $26 million in bitcoin and other cryptocurrencies, believed to be linked to Terraform Labs and its co-founder, Do Kwon. Local media in South Korea revealed that the funds were confiscated from Sygnum, a crypto bank based in Zurich. The U.S.

Report: Swiss Authorities Seize $26 Million in Cryptocurrency Linked to Terraform Labs and Do Kwon

South Korea's nearly 7 million registered users, many in the nation's capital, show a huge interest in trading crypto. But CoinDesk's 4th-ranked Crypto Hub for 2023 is still licking its wounds after the catastrophic collapse of Do Kwon's Terra blockchain – for a time, South Korea's favorite crypto project.

Seoul: Asia's Retail Crypto Capital Moves on After Do Kwon

While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022. The six programmers, known as the “Six Samurai,” wholeheartedly believe that luna classic (LUNC) has “limitless upside potential.

Six Samurai: Anonymous Developers Seek to Revive Terra Classic Ecosystem

Swiss authorities have reportedly frozen $26 million worth of assets from Terraform Labs and its founder, former crypto billionaire Do Kwon. The assets frozen included Bitcoin (BTC), and was frozen from Swiss digital asset bank Sygnum, reports Korean outlet Digital Asset.

$26,000,000 Worth of Do Kwon and Terraform Labs' Assets Frozen by Swiss Police: Report

$26 million in crypto linked to Terraform Labs and held in digital asset bank Sygnum has reportedly been frozen by Swiss authorities.

Swiss Authorities Freeze $26M Worth of Do Kwon, Terraform Labs Crypto Assets: Report

Some LUNC token holders remain committed to a Terra ecosystem revival.

Terra Classic Revival Plans Continue as 6 Engineers Aim to Revive LUNC Ecosystem

On Monday, a Montenegro court sentenced the disgraced Terra (LUNA) founder Do Kwon to four months in prison for attempting to travel with a forged passport. Kwon was first arrested in late March after trying to board a flight to the United Arab Emirates (UAE) with a Costa Rican passport, which authorities claimed was forged.

Disgraced Terra (LUNA) Founder Do Kwon Sentenced to Four Months in Prison by Montenegro Court

Terraform Labs founder Do Kwon has been sentenced to four months in prison by a Montenegro court for using a false passport.

Terraform Labs Founder Do Kwon Sentenced to Four Months Jail

Montenegro's court has determined that Do Kwon, the co-founder of Terraform Labs, is guilty of using a counterfeit Costa Rican passport. As a result, he has been sentenced to four months in jail for the offense.

Terra's Do Kwon Receives 4-Month Jail Sentence in Montenegro for Counterfeit Passport Usage

A court in Montenegro has sentenced cryptocurrency entrepreneur Do Kwon, who is charged in the U.S. with a multibillion-dollar

Montenegro court jails 'cryptocurrency king' Do Kwon for four months - media

A Montenegro court handed down prison sentences to Do Kwon, founder of the Terra (CRYPTO: LUNA) blockchain, and Terra executive Han Chang-Joon for attempting to flee the country using counterfeit Costa Rican passports. The incident, which took place in March, saw the duo trying to board a private jet.

Do Kwon Sentenced To Prison In Montenegro After Attempting To Flee Country: Extradition Could Come Next

The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and fellow Terra executive Han Chang-Joon.

Do Kwon Sentenced to 4 Months Jail in Montenegro Document Forgery Case

Do Kwon has been found guilty of using a fake passport in an attempt to leave Montenegro in March. He was sentenced to four months in jail.

Do Kwon found guilty in Montenegro fake passport case

Terraform Labs' CEO Do Kwon told a court in Montenegro he never had any intentions of forging his travel documents.

Terra Co-Founder Do Kwon Denies Forged Passport Allegations

A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and Exchange Commission (SEC) alleging that they defrauded investors whom they sold unregistered securities.

US Judge Considers if Crashed Coins of Terraform Labs Were Securities

Terra founder Do Kwon refuted allegations of possessing a counterfeit passport during a court session in Montenegro, claiming that the Costa Rican passport in question was procured via a Singapore agency. In the court, Kwon was quoted as, “We applied for these passports through an agency recommended to me by friends whom I respect.

Spy Movie In Real Life: How Terra Founder Do Kwon's Golden Passport Scheme Crashed And Burned

Do Kwon, a co-founder of Terraform Labs, will be taken into extradition custody in Montenegro for up to six months.

Terraform Labs Co-Founder Do Kwon to Be Taken Into Extradition Custody

Was UST a security because it was designed for practical uses rather than as an investment?

U.S. Court Will Rule on Terraform Labs' Push to Dismiss SEC Lawsuit Within a Month

A U.S. judge considered whether the digital assets created by Terraform Labs were securities at a hearing on Thursday, a question central to the U.S. Securities and Exchange Commission's fraud case against the company and its founder Do Kwon.

U.S. judge considers whether Terraform Labs' cryptocurrencies were securities

Courts in the country approved bail for the Terraform Labs founder, but a South Korea extradition request is set to keep him in jail.

News for Luna Classic (Former Terra) Crypto (LUNC)