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

Prosecutors said they have no plans to alter the charges against Do Kwon despite a policy shift memo from deputy attorney general.

US prosecutors say DOJ crypto shift won't affect case against Do Kwon: reports

Prosecutors told a New York judge on Thursday that they don't plan to change the charges against Kwon in light of the memo.

DOJ Crypto Enforcement Memo Has No Bearing on Do Kwon's Criminal Case, Prosecutors Say

Terraform Labs will launch a Crypto Loss Claims Portal on March 31, 2025, enabling investors impacted by the 2022 collapse of terrausd (UST) and associated cryptocurrencies to seek compensation.

Terraform Labs Sets March 31 Launch for Crypto Loss Claims Portal

Managed by administrators at New York-based Kroll, the portal will open on Monday, March 31 and close on April 30.

Terraform Labs Creditors Have a Month to Submit Claims for Losses

Creditors must file claims by April 30, 2025, to seek potential recovery.

Terraform Labs to Open Claims Portal for Investors on March 31 

Terraform Labs' crypto claims portal will open on March 31 nearly three after Terra's $40 billion ecosystem collapsed.

Terraform Labs to open crypto creditor claims portal on March 31 in bankruptcy unwind

Disgraced Terraform Labs co-founder Do Kwon will reportedly face trial in the US early next year. Bloomberg reports that New York District Judge Paul Engelmayer on Wednesday set the schedule of the trial, which will begin on January 26th, 2026 and is anticipated to last from one to two months.

Judge Schedules Do Kwon's Criminal Trial for Early 2026 Weeks After Successful Extradition to US: Report

Terra founder Do Kwon's criminal trial has been set. Here's what you need to know about the $40 billion collapse of TerraUSD and LUNA.

Do Kwon's Terra Trial Set for 2026—Here's What You Need to Know

US prosecutors have laid out their plans for discovery in the ongoing criminal case against Terraform Labs co-founder Do Kwon.

US Prosecutors to Search Do Kwon's Emails, Twitter, and Devices in Terra Fraud Case

Kwon's defense attorney's asked for a least a year to prepare for the case, given Kwon's additional legal issues outside the U.S.

Judge sets Terraform founder Do Kwon's trial for January 2026 in ‘unprecedented' move, urges plea negotiations

Do Kwon's alleged schemes could have impacted more than 1 million victims worldwide, according to US prosecutors. US authorities extradited Kwon, the disgraced co-founder of the Terra (LUNA) ecosystem, late last month. Kwon faces fraud charges related to the multibillion-dollar downfall of Terra in 2022.

US Government Estimates Do Kwon's Victim Count Potentially Exceeding 1,000,000 People

New court documents reveal that authorities plan to search through disgraced Terra (LUNA) founder Do Kwon's personal emails, social media accounts, financial records, and more. According to a new court memo, investigators say they will sift through massive amounts of Kwon's personal data to gather evidence against him.

Investigators to Search Through Do Kwon's Personal Emails, Twitter Messages and Mobile Devices in Terra Case

Prosecutors are currently working to unlock four of Kwon's cell phones provided by Montenegrin authorities.

Do Kwon Criminal Trial Set for 2026 as Lawyers Deal with ‘Massive' Trove of Evidence

Court documents allege that Do Kwon's crypto ecosystem Terra may have affected over a million victims when UST and LUNA collapsed in 2022.

Terra Collapse May Have Impacted a Million Victims, Feds Allege in Do Kwon Case

Kwon, recently extradited to the US from Montenegro, pleaded not guilty to his criminal charges in a New York court last week.

US prosecutors estimate over 1 million victims in Do Kwon's criminal case

Bitcoin

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: BlackRock's Bitcoin ETF sees largest daily outflows since launch, Do Kwon pleads not guilty and more

Kwon's Terraform Labs developed the luna cryptocurrency and stablecoin terraUSD, which folded in 2022, losing an estimated $40 billion

Do Kwon Pleads Not Guilty to Fraud Following Extradition to US: Reuters

Do Kwon, co-founder of Terraform Labs, appeared in a U.S. court on Jan. 2, 2025, where he pleaded not guilty to charges stemming from the collapse of the Terra ecosystem.

Do Kwon Pleads Not Guilty to U.S. Charges for $40 Billion TerraUSD Collapse, Faces Multiple Fraud Counts

Terraform Labs co-founder Do Kwon pleaded not guilty in a New York court shortly after being extradited to the U.S. from Montenegro.

Terraform Labs co-founder Do Kwon pleads not guilty to criminal charges in Manhattan court following extradition: reports

Freshly extradited from Montenegro, Terraform Labs co-founder Do Kwon pleaded not guilty to U.S. criminal charges over Terra's collapse.

Do Kwon Pleads Not Guilty to US Charges Over Terra LUNA, UST Crash

The disgraced co-founder of the Terra (LUNA) ecosystem is set to appear in a US court today after recently being extradited from Montenegro.

Recently Extradited Terra (LUNA) Founder Do Kwon Set To Appear in U.S. Court Today: Report

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was set to appear in U.S. court on Thursday to face criminal fraud charges after being extradited from Montenegro this week.

Former crypto executive Do Kwon due in US court on criminal fraud charges

Montenegrin authorities extradited crypto entrepreneur Do Kwon to the United States on Sunday to face fraud charges related to the $40 billion collapse of the Terra ecosystem in 2022.

Terraform Labs Founder Do Kwon Handed Over to US Authorities Days After Montenegro Approved Extradition: Report

Do Kwon, the South Korean founder of Terraform Labs, has been extradited to the United States. Authorities in the country accused Do Kwon of orchestrating a multi-billion dollar crypto fraud following the collapse of his company's Terrausd and Luna cryptocurrencies in 2022. The collapse caused billions of dollars in losses across the market.

Do Kwon Extradited to US to Face Crypto Fraud Charges

Montenegro extradited Terraform Labs co-founder Do Kwon to the U.S. on Tuesday, according to the Vijesti news outlet.

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