SEC Faces Challenges in Legal Fight Against Terraform Labs; Judge Indicates

The U.S. Securities and Exchange Commission (SEC) is facing challenges in the Terraform Labs case, currently in legal proceedings in the Southern District of New York. The trial, set for January 2024 and overseen by Judge Rakoff, has recently brought attention to the SEC's actions.

Timeline of Terra-luna-v2, Terra-luna

The U.S. Securities and Exchange Commission (SEC) finds itself in troubled waters during the legal proceedings against Terraform Labs. The trial, taking place at the Southern District of New York and presided over by Judge Rakoff, is slated for January 2024. However, recent developments have shifted the spotlight onto the SEC's conduct.

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%.

Terra Classic (LUNC) is leveraging the ongoing market-wide momentum to register massive gains. The upward trajectory for LUNC began on Nov. 26, marked by a significant 28.50% intraday gain.

Terra Classic Price Prediction: In the recent two weeks, Terra Classic (LUNC) has notably outperformed the broader market, recording impressive gains. This surge in momentum was further fueled when its sister token, the Stablecoin USTC, showed a massive rally in its attempt to regain the $1 benchmark.

Few names have sparked as much intrigue and controversy as Do Kwon (sometimes called Kwon Do). From the meteoric rise of Terra Luna to its sudden and tumultuous downfall, Do Kwon has become a figure of significant interest and speculation.

Terra Classic Price Prediction: The tokens of Terra Classics network grabbed the investors' attention in late November as the USDT stablecoin recently showcased a massive surge. The LUNC Price recovery bolstered by this positive sentiment reached an 8-month high and hit the $0.000146 mark.

The class action was one of the many lawsuits brought against the company last year after the Terra-LUNA fiasco that wiped out billions of dollars as investors watched their funds vanish into thin air within a matter of days.

Binance, the world's largest crypto exchange, has recently executed the 16th batch of Terra Luna Classic (LUNC) token burn, eliminating almost 4 billion tokens. This brings Binance's total LUNC burn to over 43 billion, constituting 52% of the total tokens burned by the Terra Luna Classic community.

Terra Classic (LUNC) has shown a robust bullish trend in the last 7 days, experiencing a remarkable 56% surge in value, as reported by CoinMarketCap. However, at the current moment, there's a sign that the altcoin might be pausing its positive momentum, with a slight 0.32% dip observed on the daily timeframe.

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.