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

Liquidators of the failed crypto hedge fund Three Arrows Capital (3AC) filed a claim in Delaware federal court on August 9, and are seeking $1.3 billion in damages from Terraform Labs.

3AC Liquidators Seek $1.3B from Terraform Labs After Terra Collapse

TerraForm sought to "manipulate the open market for LUNA and UST in a manner that artificially inflated the price for the assets," it claims.

Three Arrows Capital Liquidators File $1.3 Billion Claim Against Terraform Labs

Defunct cryptocurrency hedge fund Three Arrows Capital's (3AC) liquidators have sued Terraform Labs for $1.3 billion, for losses the fund suffered following the 2022 crash, Bloomberg reported on Monday.

Three Arrows Capital Liquidators Now Sue Terraform Labs for $1.3B: Bloomberg

Liquidators for the defunct cryptocurrency hedge fund Three Arrows Capital are pursuing a claim of at least $1.3 billion against TerraForm Labs Pte., the bankrupt digital assets company co-founded by Do Kwon.

Liquidators Pursue $1.3B From TerraForm Labs After Three Arrows Capital Collapse: Report

The Supreme Court of the southeastern European nation of Montenegro is again postponing Terra (LUNA) co-founder Do Kwon's extradition to South Korea. According to a report from Montenegrin news outlet Vijesti, Montenegro's Supreme Court has halted the extradition due to a request for “protection of legality” brought forth by Kwon's camp.

Montenegrin Supreme Court Pauses Do Kwon Extradition to South Korea: Report

The postponement is yet another move in Do Kwon's back-and-forth regarding his extradition out of Montenegro.

Montenegrin court once again postpones Do Kwon's extradition to South Korea

Do Kwon's extradition from Montenegro has been delayed yet again.

Do Kwon's Extradition from Montenegro Postponed Yet Again

An appellate court in Montenegro has upheld the decision of a lower court on the extradition case of Terraform Labs co-founder Do Kwon. Kwon is facing criminal charges in his native South Korea and the US for the $40 billion crash of the TerraUSD stablecoin and its companion token, Luna.

Montenegro Court Greenlights Disgraced Terra Founder Do Kwon's Extradition to South Korea, Turns Down US

In a significant legal development, a Montenegrin appeals court has upheld the decision to extradite Do Kwon, co-founder of Terraform Labs, to South Korea.

Montenegrin Court Upholds Extradition of Terraform Labs Co-Founder Do Kwon to South Korea

The August 1 ruling marks the conclusion of a protracted legal saga involving multiple appeals and judicial reversals on Kwon's extradition.

Terra Founder Do Kwon Will Be Extradited to South Korea—Court Says It's Final

Do Kwon, the disgraced co-founder of Terraform Labs, is set to be extradited from Montenegro to South Korea, as per a court ruling. The decision rejects a U.S. extradition request.

US Loses Out To South Korea Over Extradition Of Terraform Labs' Do Kwon

A court in Montenegro denied the U.S.'s request to extradite former Terraform Labs CEO Do Kwon and ruled that he would be sent to South Korea.

Montenegro appeals court rules Do Kwon will be extradited to South Korea

Terraform Labs co-founder and fraudster Do Kwon is once again set to be extradited from Montenegro to his native South Korea, after a ruling from the Balkan nation's court of appeals Thursday.

Montenegro to Extradite Do Kwon to South Korea, Rejecting U.S. Request

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.

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