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Terra Luna Classic Price Fell Amid Broader Crypto Market Selloff Crypto exchange Binance ’s announcing shut down of its crypto payments service amid plans to refocus on core products caused a sudden selloff in the broader crypto market. advertisement Last week, the Terra Luna Classic community voted to reject a poll to make LUNC DAO a leader of the chain and choose governance. After LUNC and LUNA prices fell 10%, LUNC DAO said whales are responding to community disobedience of him by dumping prices. $LUNC whales are responding to community disobedience of me by dumping. Remember, by being disobedient, you not only lose me, but all my heavily invested whale/builder friends too. You chose this. “But but we are 80% obedient” Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

US Judge Decision To Dismiss SEC Lawsuit Against Terra Do Kwon In July Terra form Labs and co-founder Do Kwon ’s lawyers and the US SEC lawyers filed responses to the motion to dismiss the lawsuit in the US District Court for the Southern District of New York on June 15. advertisement Dentons lawyers, representing Terraform Labs and co-founder Do Kwon, strongly claim algorithmic stablecoin UST (now USTC) is not a security as it was designed for practical purposes rather than an investment contract. They filed additional documents to support the motion to dismiss a lawsuit. It includes the US House Financial Services Committee hearing on digital asset regulation and stablecoin issuance, the SEC request for a restraining order against Binance.US, and Hinman emails in the SEC v. Ripple lawsuit. Lawyers mention “regulatory gap” in whether crypto assets constitute securities as the US Congress discusses regulatory frameworks for the digital...

DFLunc Burns 2 Billion Terra Classic Tokens Binance burned 1.27 billion LUNC as part of its monthly LUNC burn mechanism on May 1. Until now, Binance has burned 31.83 billion LUNC tokens. advertisement DFLunc on May 12 shared on Twitter that it has burned over 1.6 billion LUNC, overtaking Binance’s 1.27 LUNC burn. The Terra Classic community burned almost 2 billion LUNC through DFLunc Protocol as it begins to attract attention. The DeFi protocol consists of multiple smart contracts to deflate LUNC supply through a continuous burn mechanism. DFLunc Protocol is also a validator for Terra Classic that allows users to mint its DFC token only by burning LUNC tokens. It utilizes two smart contracts based on CosmWasm — DFLunc and CW20-DFC. Users burn LUNC by paying USTC as protocol fees to mint DFC tokens. Staking more through the validator burns more LUNC by the DeFi protocol. The protocol has divided its plan into different stages that ultimately ai...