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 U.S. SEC posted an information page for investors affected by Terraform, the firm behind the algorithmic stablecoin that fell in 2022.

SEC posts information page for investors harmed by Terraform fraud

Milojko Spajic, Prime Minister of Montenegro, was revealed as an early investor in Terraform Labs, co-founded by Kwon Do-hyung (Do Kwon). A filing with the U.S. Securities and Exchange Commission (SEC) lists Spajic as the 16th investor in Terraform Labs, purchasing 750,000 luna coins at 10 cents each in April 2018.

Montenegro Prime Minister Listed Among Top Terraform Labs Investors in SEC Filing

Ripple is pointing to the recent Terraform Labs settlement in a bid to reduce their own penalty from the U.S. Securities and Exchange Commission (SEC). Earlier this week, the SEC reached a $4.

Ripple Cites New Terraform Labs Settlement in a Bid To Convince the Court To Lower the SEC's Civil Penalty

A new report says that the U.S. Securities and Exchange Commission (SEC) has reached a multi-billion dollar settlement with the crypto firm that played a major role in kicking off the FTX implosion. According to Reuters, the SEC has reached a $4.

SEC Settles With Former Stablecoin Juggernaut Terraform Labs for $4,470,000,000: Report

Terraform Labs' CEO said that the company will be winding down operations following a $4.5 billion settlement agreement with the SEC.

Terraform Labs to Dissolve After $4.5 Billion SEC Settlement Over LUNA, UST

Following a settlement with the U.S. Securities and Exchange Commission (SEC), Chris Amani, who succeeded Do Kwon as the CEO of Terraform Labs, disclosed that the blockchain firm is set to dissolve.

Terraform Labs to Dissolve After SEC Settlement, CEO Announces

Chris Amani, CEO of Terraform Labs, said the firm plans to dissolve its operations and urged the community to take over.

Terraform Labs to dissolve, CEO asks community to take over following $4.47 billion SEC settlement

In a significant development, Terraform Labs agreed to a civil settlement of $4.47 Billion with the Securities and Exchange Commission after being found guilty of defrauding cryptocurrency investors during the infamous Terra (CRYPTO: LUNA) implosion in 2022. What Happened: A jury found Terraform Labs and its disgraced founder, Do Kwon, guilty of defrauding cryptocurrency investors, according to a Reuters report Wednesday.

Bankrupt Terraform Labs And Founder Do Kwon Reach Historic $4.47B Settlement With The SEC In The UST, LUNA Collapse Case

While the fallen crypto mogul is still in Montenegro, he is now personally on the hook for $204 million.

Terraform Labs and Do Kwon to Pay $4.5 Billion to Settle SEC Fraud Case

Terraform Labs and its former CEO Do Kwon have agreed to a settlement agreement with the U.S. Securities and Exchange Commission (SEC) that would see them forking over a combined $4.5 billion in disgorgement and civil penalties.

Terraform Labs, Do Kwon Agree to Pay SEC a Combined $4.5B in Civil Fraud Case

The proposed judgement would also block Do Kwon from becoming an officer or director of any public firm.

Terraform agrees to pay $4.47 billion in proposed judgment with the SEC

Crypto firm Terraform Labs has agreed to pay $4.47 billion to resolve a lawsuit filed by the Securities and Exchange Commission, the regulator said on Wednesday.

Crypto firm Terraform Labs agrees to pay $4.47 bln to resolve dispute with SEC

Do Kwon appears to have reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC). In April, a jury found Kwon and Terraform Labs liable for defrauding investors regarding the stability of the algorithmic stablecoin Terra USD, which de-pegged and collapsed in 2022, causing crypto prices to plummet across the board.

Disgraced Terra Founder Do Kwon Reaches Preliminary Settlement With the SEC After Being Found Liable for Fraud

Terra founder Do Kwon and Terraform Labs reached a tentative settlement with the SEC in their civil fraud case Thursday.

Terra Coins LUNA and LUNC Rise After Do Kwon SEC Settlement News

Terraform Labs and Do Kwon have "reached a settlement in principle," with the SEC, according to a court entry.

Terraform Labs, Do Kwon reach a ‘settlement in principle' with US SEC, according to court entry

Singapore-based Terraform Labs and its founder Do Kwon have reportedly reached a preliminary settlement with the U.S. Securities and Exchange Commission (SEC) after being accused of misleading cryptocurrency investors before the 2022 collapse of terrausd (UST), the project's now-defunct algorithmic stablecoin.

Terraform Labs, Do Kwon Reach Preliminary Settlement With SEC

The startup behind the collapsed LUNA and TerraUSD coins is settling with the SEC over fraud charges, a court filing revealed Thursday.

Do Kwon and Terraform Labs Settle With SEC Over LUNA, TerraUSD Fraud Charges

Terraform Labs and co-founder Do Kwon have tentatively agreed to settle a fraud case with the U.S. Securities and Exchange Commission (SEC), according to a court filing Thursday.

Terraform, Do Kwon Agree in Principle to Settle Fraud Case With SEC: Court Filing

Singapore-based Terraform Labs and its founder Do Kwon have reached a tentative settlement with the U.S. Securities and Exchange Commission in the regulator's case alleging they misled investors before the 2022 collapse of the stablecoin TerraUSD, according to a court filing.

Terraform Labs, Do Kwon agree to settle SEC fraud case

A Montenegro appeals court has reversed an order to extradite Do Kwon, the cryptocurrency entrepreneur behind Terraform Labs, to South Korea. Kwon is wanted for his alleged role in the company's collapse, which caused a $40 billion loss and impacted global crypto markets. Both South Korea and the U.S.

Montenegro Court Blocks Do Kwon's Extradition to South Korea

Do Kwon, the former Terraform Labs chief, is still in Montenegro waiting for his extradition decision.

Montenegrin Justice Minister discusses Do Kwon with US SEC in recent meeting

Lawyers for Terraform Labs and Do Kwon pushed back against the SEC after the agency requested them to pay billions of dollars in fines.

Terraform Labs' lawyers push back against SEC, argue token sales were mostly outside US

Lawyers for Terraform Labs and its co-founder Do Kwon say a fine closer to $1 million is more appropriate after being found guilty of fraud.

Lawyers for Terraform and Do Kwon say fines should be closer to $1 million, not the SEC's proposed $5.3 billion

The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and $545,748,909 in prejudgment interest.

SEC Seeks $5.3 Billion in Final Judgment Against Do Kwon and Terraform Labs

The U.S. Securities and Exchange Commission (SEC) is reportedly looking to hit the disgraced founder of the Terra ecosystem with a multibillion-dollar fine. According to a new report by Bloomberg, the regulatory agency is seeking a $5.

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