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 firm said that the bankruptcy filing would enable it "to execute on its business plan while navigating ongoing legal proceedings."

Terraform Labs Files for Chapter 11 Bankrupty in Delaware

Terraform Labs recently lost a case when a U.S. judge ruled that LUNA and MIR are securities, and is currently facing a class action lawsuit in Singapore.

Terraform Labs Declares Bankruptcy in Delaware

Terraform Labs, the parent company of the defunct stablecoin TerraUSD, has submitted a petition for Chapter 11 bankruptcy protection in the United States. What Happened: Do Kwon co-founded Terraform Labs lodged an official request for Chapter 11 bankruptcy protection with the United States Bankruptcy Court for the District of Delaware, reported Cointelegraph on Monday.

Terraform Labs Files For Chapter 11 Bankruptcy Protection Amid Legal Woes Facing Co-Founder Do Kwon

Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets in 2022, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday.

Terraform Labs files for bankruptcy protection in the U.S.

Terraform Labs Pte. Lte. filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on Jan. 21.

Terraform Labs files for Chapter 11 bankruptcy in Delaware

Terraform Labs, the company behind the stablecoin TerraUSD, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday.

Terraform Labs files for bankruptcy protection in US

A federal judge on Tuesday delayed the U.S. Securities and Exchange Commission's trial against Terraform Labs and co-founder Do Kwon over an alleged $40 billion cryptocurrency fraud, to allow time for Kwon to be extradited so he can attend.

US SEC trial against Terraform Labs postponed to allow Do Kwon extradition

The trial of Terraform Lab' former CEO has been pushed back to late March after his lawyer said he faces challenges to get him to the U.S.

Trial for former Terraform Labs CEO Do Kwon pushed back to March

The U.S. Securities and Exchange Commission agreed to delay a civil trial against Terraform Labs and co-founder Do Kwon for allegedly orchestrating a $40 billion cryptocurrency fraud, so that Kwon can be extradited and attend.

US SEC willing to delay Terraform Labs trial for Do Kwon's extradition

Local courts may be facing political pressure regarding Kwon's extradition to the U.S. or South Korea, his lawyer Goran Rodic told CoinDesk.

Do Kwon Appeals New Montenegro High Court Decision Upholding Extradition Requests, Lawyer Says

Disgraced Terraform Labs founder Do Kwon is reportedly asking a judge to delay the U.S. Securities and Exchange Commission's (SEC) trial to March so he can make an appearance. In a new letter addressed to the court uncovered by Inner City Press, Kwon's lawyers ask District Judge Jed S.

Terraform Labs Founder Do Kwon Asks US Judge To Postpone SEC Trial Amid Extradition Delays: Report

Terraform Labs co-founder Do Kwon has requested that the judge in his fraud case delay the trial date, currently set for Jan. 29, 2024, because Kwon is still tied up in extradition proceedings in Montenegro. Terra's Do Kwon Requests Trial Postponement Due to Extradition Issues In a letter to U.S.

Terra's Do Kwon Seeks Trial Delay, Citing Extradition Holdup

Terraform Labs co-founder and former chief Do Hyeong Kwon's legal defense team has requested an extension of their client's trial date. What Happened: “Mr.

Terra Founder Do Kwon Asks For Trial Extension, Pushing Back Extradition To US

Lawyers for Kwon said that an adjournment to mid-March "would provide a realistic possibility" for him to attend.

Terra Co-Founder Do Kwon Requests SEC Trial Delay So He Can Attend

The counsel representing Terraform Labs co-founder Do Kwon has asked a US court to push back the SEC trial against him.

Terra founder Do Kwon asks court to delay SEC trial for personal appearance: report

The former CEO of Terra is being held in Montenegro after being caught in Podgorica's airport with falsified documents.

Do Kwon Tries To Delay SEC's Terraform Trial so He Can Attend

A US judge has ruled that collapsed crypto company Terraform Labs and its founder Do Kwon offered and sold two digital assets as unregistered securities. The U.S. Securities and Exchange Commission (SEC) and Terraform Labs both requested summary judgment in an ongoing fraud case.

US Judge Says Terraform Labs and the Disgraced Crypto Project's Founder Do Kwon Sold Unregistered Securities

In a definitive ruling, U.S. District Judge Jed Rakoff favored the Securities and Exchange Commission (SEC) in the multi-billion-dollar fraud case involving Terraform Labs and its founder, Do Kwon.

Judge Grants Summary Judgment for SEC in Landmark Crypto Case Against Terraform Labs

The summary judgment removes one of the biggest questions looming over Kwon's trial, which will now focus solely on allegations of fraud.

Judge Sides With SEC Over Do Kwon, Says UST, LUNA Are Securities

A federal judge issued summary judgements siding with the SEC's arguments that Terraform had illegally sold unregistered crypto securities.

Terraform Labs' LUNA and MIR Tokens are Securities, Judge Rules

The extradition of Terra Labs' Do Kwon to the United States has been temporarily halted as a Montenegro court has ordered a review of the case.

Do Kwon's Extradition to US Delayed as Montenegro Appeals Court Orders Review

The founder of Terraform Labs, the crypto firm behind the Terra (LUNA) collapse has won an appeal in Montenegro over being extradited to the United States. According to a statement from the Montenegro Appeals Court, the decision to extradite Terra founder Do Kwon to the US or South Korea has been overturned.

Montenegrin Court Overturns Decision To Extradite Terra Do Kwon to the US

The Terra founder was set to be extradited to the U.S. but an appeal means he will for the time being stay in Montenegro.

Terra Founder Do Kwon Avoids Extradition to US—For Now

On Tuesday, Montenegro's appeals court overturned the extradition request for Terraform Labs co-founder Do Kwon. This reversal follows reports that Justice Minister Andrej Milovic had informally agreed to the extradition.

Montenegro Appeals Court Overturns Extradition of Terraform Labs Co-Founder Do Kwon

The Appellate Court at Podgorica in Montenegro has overturned a previous ruling by the High Court regarding Terra Labs (CRYPTO: LUNA) co-founder Do Kwon's potential extradition, citing issues in the legal process and a lack of clear reasoning. This decision follows a complaint raised by Kwon's legal defense team, Bloomberg reported.

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