Keep up with what's happening in the crypto world in real-time.
All Filters (1)
Terra Classic (LUNC) price is experiencing a downturn after several weeks of market recovery. This decline coincides with a broader downward movement in the cryptocurrency sector.
As the global crypto market cap crosses $2.10 Trillion, the price of Bitcoin has successfully reclaimed the $60,000 mark. Moreover, with a jump of 10.63% over the past week, it is currently valued at $60,226.36. Following this, altcoins have recorded a massive uptrend in their respective valuation.
Montenegro's Supreme Court is reportedly set to decide by the end of this month whether the extradition process of Do Kwon involved legal violations.
The U.S. Securities and Exchange Commission (SEC) hit cryptocurrency entities with record fines in 2024, highlighting the growing financial risk for companies that fail to comply with regulatory standards. What happened: According to a study released by cryptocurrency analytics firm Social Capital Markets, the regulator has issued over $7.42 billion in fines since 2013, with $4.68 billion, or around 63%, coming this year alone.
The lost altcoin, Terra, is slowly gaining momentum as the bulls appear to have become slightly sure of the upcoming trend. The price has rebounded from the same support zone, which it had flipped multiple times in the past couple of months.
Terraform Labs' $4.47 billion fine in 2024 has already helped this year become the record year in terms of total financial penalties.
The LUNA and LUNC price rallied nearly over 14% and 9% today, respectively, gaining notable traction from the investors. Meanwhile, the robust rally has also left many investors looking for potential reasons behind the surge.
In a recent interview, President Jakov Milatović of Montenegro accused Prime Minister Milojko Spajić of lying about his knowledge of Do Kwon, the controversial co-founder of Terraform Labs, during a pivotal moment surrounding Kwon's arrest in Podgorica.
TerraForm Labs owned crypto wallet sends 1,075 Bitcoins to a new address, while Do Kwon remains stuck in Montenegro.
On-chain data shows that a crypto wallet linked to the bankrupt Terraform Labs moved 1,075 BTC, valued at approximately $62.81 million, to a new address (bc1q5) on Sept. 2.
Amid Terraform Labs' ongoing unwind and the extradition battle involving its founder Do Kwon, a wallet linked to both entities moved $62.8 million worth of Bitcoin.
Awaiting extradition to either the US or South Korea, Do Kwon could have had access to the Terraform Labs wallet containing more than 1,075 Bitcoin.
Raoul Pal, the CEO and co-founder of Real Vision, in his recent YouTube video, interviewed Ran Neuner, a renowned crypto personality, uncovering his life story around his bankruptcy, and discussing how the LUNA crash played a major role in his downfall and comeback.
Ran Neuner, the Co-founder and CEO of Onchain Capital, is a prominent personality in the crypto industry. He is known for launching the first televised cryptocurrency show, Crypto Trader, on CNBC in 2017.
Terraform Labs (TFL), the foundational entity behind the once-prominent ecosystem, has issued a significant alert for users of its Terra Classic platform. This comes in the wake of the historic collapse of its algorithmic stablecoin UST and its companion cryptocurrency LUNA, which precipitated a market implosion wiping out around $40 billion in value last year.
Terraform Labs reveals a major governance proposal for the Terra blockchain, gaining attention from the crypto community. The proposal, which aims to mark the final chain upgrade under TFL's direct oversight, is expected to trigger a rally in LUNA and LUNC tokens.
TL;DR Terraform Labs (TFL) will begin to close its operations and management of the Terra blockchain will become a community-based process. Proposal 4818 will be the last upgrade to the chain before TFL closes its operations. The key bankruptcy restructuring hearing is scheduled for September 19 and will determine the future of the company.
The shift from TFL to community management will significantly impact the Terra ecosystem and the LUNA token.
As Terraform Labs (TFL) moves towards winding down its operations, it has announced that Proposal 4818 will be the final chain upgrade implemented. This decision comes after TFL's settlement with the SEC and its ongoing Chapter 11 bankruptcy proceedings. As part of the settlement, TFL will close its business within 30 days of judgment.
The crypto prices today have showcased mixed price actions, with major coins trading in both positive and negative territories. Bitcoin (BTC) price holds above the $64,000 mark, whereas Ethereum (ETH) traded near $2,800.
Terra's latest X post had LUNA, LUNC moving on the charts.
The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered substantial hurdles since the Terra ecosystem's collapse in 2022.
The fate of Terraform Labs will be decided at the Chapter 11 bankruptcy hearing scheduled for September 19.
The $4.5 billion SEC settlement marks one of the largest in crypto history, effectively barring Terraform Labs and its co-founder Do Kwon from the crypto industry.
