Terra Luna Classic To Burn 1 Billion USTC & 275 Billion LUNC?

Quick Summary:

Terra Luna Classic community awaits massive USTC and LUNC burn by Terraform Labs (TFL) as per the Chapter 11 bankruptcy and court order in the U.S.SEC case.

While the actual amount of Terra ecosystem tokens to be burned remains uncertain, Terra Classic members claim it’s over 1 billion USTC and 275 billion LUNC tokens.

Pursuant to TFL’s settlement with the SEC and implementation of its proposed chapter 11 plan, TFL will no longer have the ability to support future chain upgrades,” as per Terra Money.

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Article Details

Author / Journalist: Varinder Singh

Category: Crypto

Markets: India

Topics: Terra Classic Terra (LUNA) 24/7 Cryptocurrency News Altcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-09 @ 09:25:47 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 438 words

Reading Time: 3 minutes read

Sentences: 41 lines

Sentence Length: 11 words per sentence (average)

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Copyright Owner: © CoinGape

News ID: 22421984

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