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 blowups of his UST and LUNA tokens fueled a crisis that gripped the whole crypto industry in 2022, causing losses that reverberated far and wide.

Do Kwon Faces Extradition to U.S. for Charges Tied to the TerraUSD and Luna Collapse: WSJ

The Terraform Labs co-founder has been caught in a jurisdictional tug-of-war between the U.S. and his native South Korea.

Montenegro Set to Extradite Terra Co-Founder Do Kwon to US: Report

Montenegro's chief legal officer has expressed intentions to extradite the embattled cryptocurrency fugitive Do Kwon to the United States, bypassing South Korea. The Wall Street Journal reported the developments, quoting sources close to the situation.

TerraUSD Creator Do Kwon Faces Potential US Extradition As Montenegro's Legal Chief Weighs Decision

The Justice Minister in Montenegro has told people in private meetings he plans extradite Kwon to the U.S. but not until ruling on an appeal.

Do Kwon will be extradited to US by Montenegro Justice Minister: WSJ

Terraform Labs and the SEC are fighting in court over who should define the legal status of Terra, LUNA wLUNA, and MIR tokens.

Terraform Labs asks judge to let jury decide if UST and LUNA tokens are securities

Over the last week, both bitcoin and ethereum experienced significant upticks, with increases of 13% and 10% respectively. Meanwhile, an array of other cryptocurrencies achieved even more impressive growth during the same period. Notably, terra luna classic (LUNC) surged by 122.5% against the dollar, while the BRC20 token ORDI ascended by 118.3%.

Altcoins in the Limelight — LUNC, IOTA, and ORDI Dominate This Week's Crypto Gains

Bitcoin

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $41,000 level on Monday. Ethereum (CRYPTO: ETH) also recorded gains, topping the key $2,200 mark this morning.

Bitcoin Tops $41,000; Terra Classic Emerges As Top Gainer

In the past week, cryptocurrencies from the Terra ecosystem, Terra Luna Classic (CRYPTO: LUNC) and USTC, have experienced notable surges. This uptick is driven by optimism surrounding various projects and crypto exchanges, as well as anticipation of a burn activity by Binance, which took place on Friday.

Binance Intensifies LUNC Burn Campaign, Launches USTC Contracts — Terra Ecosystem Tokens Rally

TerraClassicUSD (CRYPTO: USTC), the remnant of the collapsed Terra blockchain, has surged 300% in the past week. What Happened: The rise in investor interest follows the news that cryptocurrency exchange Binance has started offering perpetual contracts for USTC, and as details of a proposed Bitcoin-focused revival plan with an airdrop emerge.

Remember The Ill-Fated Terra Stable Coin? Its Shot Up Nearly 300% This Week — Here's Why

The suit was filed in September 2022 by Julian Moreno Beltran and Douglas Gan on behalf of 375 others, who claim they lost a combined $57 million.

Terraform Labs, Do Kwon Fail to Have Singapore Class-Action Suit Rejected: Report

Ethereum

Bitcoin (CRYPTO: BTC) moved lower, but the cryptocurrency prices traded above the key $37,000 level on Tuesday. Ethereum (CRYPTO: ETH) also recorded losses, but remained above the key $2,000 mark this morning.

Ethereum Falls But Remains Above This Key Level; Terra Classic Becomes Top Loser

Terra ecosystem coins have spiked following the injection of $15 million into the network's DeFi ecosystem by Terraform Labs.

Terra Ecosystem's LUNA, LUNC Surge By Double-Digits

Amidst the legal turmoil surrounding Terraform Labs and its founders, the cryptocurrency they created, Terra Classic (CRYPTO: LUNC) is blazing past Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). What Happened: Terra Classic is up 25%, trading at $0.000099.

Terra Classic Soars 25% While Bitcoin, Ethereum Take A Backseat Amid Do Kwon's Growing Legal Woes

The extradition of disgraced Terra (LUNA) founder Do Kwon to the US and South Korea has been approved by a court in Montenegro. In a new press release, the Higher Court of Podgorica has ruled that the legal requirements needed for extraditing Kwon to the US and South Korea have been met.

Terra (LUNA) Founder Do Kwon's Extradition to the US and South Korea Approved by Montenegro Court

The High Court in Podgorica, Montenegro, approved the extradition of Do Kown, the co-founder and CEO of Terraform Labs (CRYPTO: LUNA), marking a pivotal moment in the ongoing legal proceedings against the crypto entrepreneur. The court's ruling came in response to a request from South Korea's Ministry of Justice on March 29, 2023, and its subsequent amendment on Sept.

Crypto Crash Architect Do Kwon Faces Extradition: Will He Face Justice?

In a decision by the Podgorica High Court, ex-Terraform Labs chief executive Do Hyeong Kwon (Do Kwon) is set to be extradited following his four-month incarceration in Montenegro for fabricating travel papers.

Do Kwon Faces Extradition Dilemma: Montenegro's Justice Minister to Decide Between US and South Korea

A final decision on which country takes precedence for Do Kwon's extradition rests with Montenegro's Minister of Justice.

Do Kwon's extradition to South Korea and US approved by Montenegro court

The Terraform Labs founder will serve his four-month sentence in Montenegro for document forgery before a final decision on his extradition.

Terra Co-Founder Do Kwon's Extradition Approved by Montenegro Court

A court in Montenegro said on Friday it had approved the extradition of cryptocurrency entrepreneur Do Kwon, leaving a minister to decide if he will be handed over to South Korea or the United States, which both want him.

Montenegro court approves extradition of 'cryptocurrency king' Do Kwon

Minister will decide if Kwon will be extradited to the U.S. or South Korea.

Montenegro Court Approves Extradition of Do Kwon

Why did transactions spike on Polygon? What's Terra's plan post-Do Kwon? And why did South Korea buy Coinbase shares? Read on to find out.

Five top crypto stories this past week: ETF updates, Terraform Labs' reemergence, why transactions surged on one L2, and more

Do Kwon, the former CEO and founder of Terraform Labs, has been unsuccessful in his appeal against a passport fraud conviction mandated by a court in Montenegro. What Happened: CryptoSlate reported on Wednesday that Kwon and his associate, Han Chang-joon, had been indicted for passport document falsification in June.

Terraform Labs' Founder Do Kwon Fails To Overturn Passport Fraud Conviction

The founder of Terraform Labs was sentenced to four months in prison, and faces extradition following the completion of his sentence.

Do Kwon's Appeal in Fake Passport Case Denied by Montenegro High Court

In a recent development, Terraform Labs has completed the acquisition of Pulsar Finance, a firm specializing in cross-chain analytics and portfolio management. The acquisition occurs as Terraform's former CEO Do Kwon remains incarcerated in Montenegro and a U.S. Securities and Exchange Commission (SEC) lawsuit alleging multi-billion dollar fraud hangs over his head.

Under New Leadership, Terraform Labs Acquires Cross-Chain Analytics Firm Pulsar Finance

Terraform Labs, leading developer of the Terra blockchain, today announced the acquisition of Pulsar Finance.

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