China News Daily TheBitTimes.com

Terra Luna Classic Developer Group Clears Air On FUD Hexxagon in a post on August 3 said it wants to clear the Terra Luna Classic community’s concerns and doubts regarding the team having members of Terra Rebels and what caused the collapse of Terra Rebels. advertisement “We would like to clear the air and move forward, put the past behind us and work together with everyone willing to continue building for the #LUNC community, through honesty and transparency is the only way forward!” It believes that the $150k spend proposal approved by the community to Terra Rebels was a flat-rate project price, despite the complexity and time constraints of the project. Also, the discord moderators and non-technical people were paid due to their contribution, with the completion of services and apps within the stipulated time. It clarifies that only 3 people sent funds back , with one directly sending it to the community pool. ReXx sent all funds directl...

Judge Denies Terra and Do Kwon’s Motion to Dismiss SEC Lawsuit US SEC lawsuit against Terraform Labs (TFL) and Do Kwon to proceed and Torres ruling doesn’t count as precedent, according to an order by Judge Jed Rakoff of District Court for the Southern District of New York (SDNY). advertisement Judge Rakoff denied Terra’s motion to dismiss the lawsuit stating that the SEC has sufficiently argued it has jurisdiction and “asserted a plausible claim” that TerraUSD (UST), the Anchor Protocol, and LUNA may have violated securities laws. “The Court declines to draw a distinction between these coins based on their manner of sale, such that coins sold directly to institutional investors are considered securities and those sold through secondary market transactions to retail investors are not. In doing so, the Court rejects the approach recently adopted by another judge of this District in a similar case, SEC v. Ripple Labs.” Rea...