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 ongoing trial involving Terraform Labs, the company behind the algorithmic stablecoin UST (CRYPTO: USTC), took a dramatic turn on Monday with the testimony of James Hunsaker, a former employee of Jump Trading. According to a series of social media posts by journalist Alexander Osipovich, Hunsaker's testimony centered around his claim that Jump Trading colluded with Terraform Labs to manipulate the price of UST.

Trading Firm Allegedly Colludes With Do Kwon's Terra, Making $1B Before Peg Collapsed: Testimony

Terraform Labs co-founder Do Kwon has been released from prison in Montenegro as the Balkan country's Supreme Court weighs competing extradition requests from the U.S. and South Korea.

Do Kwon Released From Montenegrin Prison on Bail; Terraform Labs' Civil Trial Begins in NYC

Terraform Labs and its founder Do Kwon are set to face trial on Monday in Manhattan on a regulator's claim that they lied to investors before the collapse of two of the company's cryptocurrencies, which roiled markets in 2022.

Terraform Labs' civil fraud trial set to begin in New York

Former Terra CEO Do Kwon also had his passport confiscated as he ended his prison term on March 23 in Montenegro.

Do Kwon awaits final extradition call in foreigner camp in Montenegro: report

Multiple sources have reported that Do Kwon, the ex-chief executive officer of Terraform Labs, was set free from jail on Saturday while the high court in Montenegro decides on two separate extradition requests submitted by South Korea and the United States.

Do Kwon Out of Jail, Under House Arrest Pending Extradition Decision

The Supreme Court of Montenegro is postponing the extradition of disgraced Terra (LUNA) founder Do Kwon to South Korea.

Montenegrin Supreme Court Postpones Terra Founder Do Kwon's South Korean Extradition

Do Kwon, Terraform's co-founder, is to be released from prison in Montenegro but will in the country for now due to global criminal charges.

Do Kwon to be released from jail, remain in Montenegro

Montenegro's Supreme Court placed a pause on Terra founder Do Kwon's pending extradition from the Balkan country, issuing an order on Friday that overturns earlier decisions from two lower courts to extradite Kwon to his native South Korea.

Do Kwon's Extradition to South Korea Postponed by Montenegrin Supreme Court

An appellate court in Montenegro has stopped the extradition over “significant violations of the provisions of criminal procedure."

Terra Co-Founder Do Kwon's Extradition to South Korea Is in Limbo

Montenegro's Supreme State Prosecutor's Office said the court's decision to extradite Do Kwon to South Korea overstepped its authority.

Montenegro's top prosecutor contests Do Kwon's South Korea extradition

Terraform Labs co-founder Do Kwon's pending extradition to South Korea has apparently been put on ice following a legal challenge issued Thursday by Montenegro's top prosecutor.

Do Kwon's South Korea Extradition Uncertain After Challenge from Top Prosecutor

Do Kwon will be heading to his home country this time.

Do Kwon to Be Extradited to South Korea—This Time for Real

The court made the decision based on South Korea placing the extradition request before the United States and other relevant legal criteria.

Montenegro Appellate Court rejects Do Kwon's appeal of South Korean extradition

The U.S. is also seeking Kwon's extradition despite the Montenegrin court's decision to send him to South Korea.

Do Kwon Appeal of South Korea Extradition Rejected by Montenegro Court

A U.S. court has allowed Terraform Labs to hire law firm Dentons to defend the company in a lawsuit brought against it by the U.S. Securities & Exchange Commission (SEC) in Jan. 2024.

Terraform Labs Allowed to Hire Law Firm Dentons In Bankruptcy Case by U.S. Court: Reuters

Despite Montenegro's High Court ruling for Do Kwon's extradition to South Korea, the U.S. is not backing down.

US Continues Efforts to Extradite Terra Founder Do Kwon

The jurisdictional tug-of-war between U.S. and South Korean prosecutors over Terra founder Do Kwon continues to drag on.

US to Challenge Extradition of Terra Founder Do Kwon to South Korea

The South Korean investor community urged authorities to send the Terraform Labs co-founder to the US for 'heavier punishment.'

South Korean Terra investor community wants Do Kwon sent to US, not Korea

The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.

U.S. Will Appeal Do Kwon's Extradition to South Korea: Report

US DOJ said it will continue to pursue the extradition of Terraform Labs co-founder Do Kwon from Montenegro, according to Bloomberg.

US to challenge Do Kwon's South Korea extradition: Bloomberg

In a recent legal twist, the High Court in Podgorica has ruled in favor of extraditing Terraform Labs co-founder Do Kwon to South Korea.

High Court Shifts Extradition Route for Terraform Labs' Do Kwon to South Korea

An appellate court in Montenegro overturns an earlier ruling that approved the extradition of disgraced Terraform Labs founder Do Kwon to the United States. Kwon is facing criminal charges arising from the collapse of the stablecoin TerraUSD and cryptocurrency Luna that wiped out $40 billion worth of investor funds in 2022.

Montenegro Court Revokes Earlier Decision To Extradite Do Kwon to US, Citing Procedural Violations

Local media in Montenegro reported that Terra founder Do Kwon is cleared for extradition to his native South Korea.

Terra Founder Do Kwon Cleared for Extradition to South Korea: Report

Kwon successfully appealed a previous decision by the same court to send him to the U.S. instead.

Do Kwon Can Be Extradited to South Korea, Montenegrin Court Rules: Reports

The move comes after a Montenegrin court overturned a prior decision regarding Kwon's extradition to the United States.

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