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 SEC is calling for a New York court to impose $5.3 billion worth of fines on Terraform Labs and its co-founder Do Kwon, citing their roles in the 2022 Terra-Luna collapse.

SEC suggests $5.3 billion fine for Do Kwon, Terraform Labs

The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and co-founder Do Kwon for their role in the $40 billion implosion of the Terra ecosystem in 2022.

Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court

A United States District Court has found that Terraform Labs and the company co-founder, Do Kwon, defrauded investors in crypto asset securities. In a post published by the Securities and Exchange Committee's (SEC) Division of Enforcement, the Southern District of New York's District Court reached the decision after a nine-day trial.

Court Finds Terraform Labs Guilty of Defrauding Crypto Investors

A jury in New York has found Terra founder Do Kwon responsible for civil fraud charges.

Do Kwon Found Liable for Fraud Charges in Landmark SEC Verdict

A federal trial court jury has found collapsed crypto company Terraform Labs and its founder Do Kwon liable in the fraud charges brought by the U.S. Securities and Exchange Commission (SEC) in February last year.

Jury Finds Do Kwon and Terraform Labs Liable for Defrauding Investors in Crypto Asset Securities

On Friday, Zack Guzmán, founder of Coinage Media, announced that Terraform Labs' co-founder Do Kwon and his startup were deemed responsible for fraudulent activities in its legal battle against the U.S. Securities and Exchange Commission (SEC). The lawsuit spanned approximately two weeks.

Terraform Labs and Former CEO Do Kwon Found Liable for Civil Fraud by Jury

The SEC accused Kwon and his company of misleading investors about the stability of their so-called “algorithmic stablecoin” Terra USD.

New York Jury Finds Do Kwon, Terraform Labs Liable for Fraud in SEC Case

The federal regulator prevails in asserting that the stablecoin issuer and its founder misled investors.

Do Kwon Found Liable for Fraud in SEC Lawsuit

A jury has found that the co-founder of Terraform Labs, Do Hyeong Kwon, misled investors and was found liable for fraud, according to multiple reports. The Securities and Exchange Commission charged Terraform and Kwon in February 2023 over the algorithmic stablecoin Terra USD, which collapsed in a dramatic fashion a year earlier.

Terraform co-founder Do Kwon found liable for fraud: reports

NEW YORK – Lawyers for the U.S. Securities and Exchange Commission (SEC) rested their case against Terraform Labs and its co-founder, Do Kwon, on Friday, releasing a New York jury to decide whether Kwon and his company are liable for allegedly misleading investors about the stability of Terra USD (UST) and its integration with a Korean mobile payments app.

Jury Begins Deliberations in Civil Fraud Case Against Do Kwon, Terraform Labs

The legal battle surrounding Do Kwon, co-founder of Terraform Labs, has taken another turn, with Montenegro's Supreme Court having thrown a wrench into the extradition process, cancelling a lower court's decision to send the beleaguered co-founder to South Korea. What Happened: The crux of the issue lies in a procedural error.

Do Kwon's Extradition Saga Takes A Twist, As Montenegro Supreme Court Overturns Ruling

In the latest Montenegro Supreme State Prosecutor's Office's announcement, the legal proceedings concerning the extradition of Terraform Labs' former CEO, Do Kwon, will revert to the first trial court.

Ex-Terraform Labs CEO Do Kwon's Extradition Case Reset

The Supreme Court of Montenegro overturned a decision made by the lower courts concerning the extradition of Do Kwon.

Montenegro Supreme Court overturns decision on Do Kwon's extradition as NY civil case continues

Attorneys for Terraform Labs and its founder Do Kwon are expected to give closing arguments on Friday at a trial on claims that Terraform and Kwon defrauded investors before the collapse of their stablecoin shocked cryptocurrency markets in 2022.

Terraform Labs to make final pitch to jury as civil fraud trial wraps

The ongoing trial involving Terraform Labs, the company behind the algorithmic stablecoin UST (CRYPTO: USTC), took a dramatic turn on Monday with the testimony of James Hunsaker, a former employee of Jump Trading. According to a series of social media posts by journalist Alexander Osipovich, Hunsaker's testimony centered around his claim that Jump Trading colluded with Terraform Labs to manipulate the price of UST.

Trading Firm Allegedly Colludes With Do Kwon's Terra, Making $1B Before Peg Collapsed: Testimony

Terraform Labs co-founder Do Kwon has been released from prison in Montenegro as the Balkan country's Supreme Court weighs competing extradition requests from the U.S. and South Korea.

Do Kwon Released From Montenegrin Prison on Bail; Terraform Labs' Civil Trial Begins in NYC

Terraform Labs and its founder Do Kwon are set to face trial on Monday in Manhattan on a regulator's claim that they lied to investors before the collapse of two of the company's cryptocurrencies, which roiled markets in 2022.

Terraform Labs' civil fraud trial set to begin in New York

Former Terra CEO Do Kwon also had his passport confiscated as he ended his prison term on March 23 in Montenegro.

Do Kwon awaits final extradition call in foreigner camp in Montenegro: report

Multiple sources have reported that Do Kwon, the ex-chief executive officer of Terraform Labs, was set free from jail on Saturday while the high court in Montenegro decides on two separate extradition requests submitted by South Korea and the United States.

Do Kwon Out of Jail, Under House Arrest Pending Extradition Decision

The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea.

Montenegrin Supreme Court Postpones Terra Founder Do Kwon's South Korean Extradition

Do Kwon, Terraform's co-founder, is to be released from prison in Montenegro but will in the country for now due to global criminal charges.

Do Kwon to be released from jail, remain in Montenegro

Montenegro's Supreme Court placed a pause on Terra founder Do Kwon's pending extradition from the Balkan country, issuing an order on Friday that overturns earlier decisions from two lower courts to extradite Kwon to his native South Korea.

Do Kwon's Extradition to South Korea Postponed by Montenegrin Supreme Court

An appellate court in Montenegro has stopped the extradition over “significant violations of the provisions of criminal procedure."

Terra Co-Founder Do Kwon's Extradition to South Korea Is in Limbo

Montenegro's Supreme State Prosecutor's Office said the court's decision to extradite Do Kwon to South Korea overstepped its authority.

Montenegro's top prosecutor contests Do Kwon's South Korea extradition

Terraform Labs co-founder Do Kwon's pending extradition to South Korea has apparently been put on ice following a legal challenge issued Thursday by Montenegro's top prosecutor.

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