ChainCatcher news, CoinMarketCap data shows that the Terra (LUNA) token has dropped over 98% from its all-time high set about three years ago. However, despite the price crash, investors are still buying LUNA tokens, with a trading volume exceeding $21 million in the past 24 hours. Analyst Optimus KevTron stated that this phenomenon indicates that even if some believe the LUNA token is "dead," there are still people buying in.

ChainCatcher news, Zhu Su posted that the LUNA crash has caused significant losses for many investors, so the calls for forgiveness for Do Kwon are not high. As one of the largest protocols in crypto history, Terra's mechanisms have always been open and transparent, UST was widely adopted by major exchanges, and top VCs were deeply involved. However, the industry now seems to blame the failure on him personally, rather than on systemic issues.Although Do Kwon was overly arrogant during his peak and failed to adequately listen to external criticism, if the crypto industry chooses to make him a "scapegoat," it could affect the entry of high-potential entrepreneurs—after all, similar failure cases exist in traditional industries as well. Nowadays, when entrepreneurs weigh their options between AI, early-stage technology, and the crypto industry, they also need to consider the risks of "personal responsibility." This phenomenon brings to mind the question of whether Ethereum co-founder Vitalik should bear criminal responsibility after the DAO hacking incident.

ChainCatcher news, according to Coindesk, TradingView data shows that the price of Ethereum plummeted nearly 20% in the seven days ending March 9, marking the largest weekly percentage drop since November 2022.This sell-off broke the bullish trend line that started from the low point after the collapse of the Terra algorithmic stablecoin UST in June 2022, which resulted in billions of dollars in losses for investors.This decisive drop suggests that the bullish trend for Ethereum over the past three years may have ended, with focus shifting to deeper losses, potentially falling to support levels near the lows of September-October 2023, around $1,500.Trend lines help visualize the direction of capital flow among traders and where price changes may occur. An upward or bullish trend line represents a level where demand is expected to be sufficient to prevent further price declines. When a long-term bullish trend line is broken, as in the case of ETH, it indicates weakening demand and suggests a potential bearish shift in market trends. Breaking below a trend line often prompts other traders to sell, leading to larger losses.

ChainCatcher news, according to the official announcement, Binance is expected to suspend token deposits and withdrawals for the Terra (LUNA) network on March 4, 2025, at 22:32 (UTC+8) to support its network upgrade and hard fork.

ChainCatcher news, according to an announcement from Finisterra Labs, the company has completed a $3.75 million seed round financing, led by Haun Ventures and participated by Lightshift Capital, to develop the decentralized data marketplace Baselight.Baselight is dedicated to solving data fragmentation, high access costs, and unfair profit models, providing a queryable, computable, and monetizable data platform for financial analysts, DeFi developers, AI teams, and more. The team plans to expand the data ecosystem, optimize the analytics engine, and deepen the integration of AI, finance, and blockchain to promote data democratization.

ChainCatcher news, according to Etoday, the South Korean Supreme Court has ruled that the stablecoin TerraUSD and the cryptocurrency Luna are not considered financial investment products or securities. These digital assets collapsed in May 2022, resulting in a loss of approximately $40 billion in value. The latest court ruling may impact similar legal disputes in lower courts.In November 2022, a court in Seoul rejected the prosecutors' request to confiscate the assets of Daniel Shin, co-founder of Terraform Labs, the company behind these tokens. When the prosecutors appealed, the same court reaffirmed its ruling in February 2023.In the appellate court, the judges stated that the evidence provided by the prosecution was insufficient to classify Luna as a "financial investment product" under the Financial Investment Services and Capital Markets Act. This ruling was made three years after the legal proceedings began.

ChainCatcher news, according to Bitcoin.com, Notional Labs CEO Jacob Gadikian recently stated that the Terra crash and UST de-pegging were not triggered by founder Do Kwon, but rather stemmed from an anonymous attack.Gadikian stated that the attackers compromised the Terra blockchain, attempting to disrupt UST's $1 peg and profiting through arbitrage. Gadikian also pointed out that during the attack, hundreds of millions of validators were manipulated.Other investigators also agree with Gadikian's viewpoint, noting that during the de-pegging, the chain's transaction volume increased sixfold, thanks to bots. The attack was orchestrated by several addresses, conducting over 70,000 transactions, all of which failed. This led to network congestion, as validators could only keep 5,000 transactions in their memory pool.Although Do Kwon has been extradited to the U.S. for fraud, Gadikian believes that the mastermind behind the attack has yet to be revealed.

ChainCatcher news, according to Reuters, Andrew Chesley, the lawyer for Terra co-founder Do Kwon, defended him and stated that he will not seek bail at this time. U.S. District Court Judge Robert Lehrburger therefore ordered his detention. When U.S. Marshals escorted Do Kwon out of the courtroom, he took with him a 79-page copy of the indictment, and he is expected to appear in court again on January 8.Previous news, Do Kwon has pleaded not guilty to fraud charges in a hearing at the Manhattan federal court.

ChainCatcher news, Coinbase's Vice President of Legal, Ryan VanGrack, pointed out that over 50% of the SEC's record total fines in 2024 come from the $4.4 billion case against Terraform, but this fine may be difficult to recover. VanGrack believes that an excessive focus on enforcement data may create wrong incentives and suggests focusing on the amount returned to harmed investors as a metric.The Wall Street Journal previously reported that the SEC has not collected fines amounting to as much as $10 billion, including the $62 million fine imposed on Paul Bilzerian 31 years ago for securities fraud (which has grown to $180 million with interest), highlighting the SEC's limitations in enforcement recovery.

ChainCatcher news, according to reports from Jinshi citing police sources, Montenegro has extradited Terra co-founder Do Kwon to the United States. (Jinshi)

ChainCatcher news, the U.S. Securities and Exchange Commission (SEC) stated that Jump Trading subsidiary Tai Mo Shan Ltd. will pay $123 million to settle allegations of misleading investors by stabilizing the coin during the collapse of TerraUSD.The company, related to Jump's cryptocurrency division, made significant purchases during the collapse of TerraUSD to support the failed stablecoin's peg to $1, thereby deceiving the market. The SEC accused Tai Mo Shan of negligence, noting that it executed trades worth $20 million that created a false impression of TerraUSD's stability.The regulator also emphasized the company's role in underwriting TerraUSD's sister token Luna, claiming it was involved in the issuance of unregistered securities.

ChainCatcher message, Binance is expected to suspend token deposits and withdrawals for Terra Classic (LUNC) on December 17, 2024, at 19:57 (UTC+8) to support its network upgrade.The project team will perform the network upgrade at block height 21,163,600 (expected on December 17, 2024, at 20:57 UTC+8).

ChainCatcher news, according to Decrypt, the U.S. Securities and Exchange Commission (SEC) received $8.2 billion in fines for the fiscal year 2024, setting a record high in its history, with more than half ($4.5 billion) coming from the SEC's fines against Terraform Labs and its founder Do Kwon. Without this settlement, the SEC's finances would have reached their lowest level since 2013, at $3.72 billion.

ChainCatcher news, according to Protos, Terra founder Do Kwon was arrested in Montenegro on March 23, 2023, but his electronic devices were not handed over to the investigating judge until June of that year.An official from the Montenegrin special police told Portal ETV that during a search of inmates, including Do Kwon, laptops, mobile phones, cryptocurrency wallet login information, and "other codes to access the blockchain" were discovered.Two sources stated that at least three cryptocurrency transactions were made using Do Kwon's cryptocurrency wallet during his detention. This information was obtained through accounts related to a mobile phone company in Podgorica.

ChainCatcher message, according to the ranking surge data from the Web3 asset data platform RootData, as of October 14 at 5 PM, Terra Classic has risen by 703 ranks, placing it first; Blackwing has risen by 639 ranks, ranking second; Alliance Games has risen by 616 ranks, coming in third.Additionally, the Web3 asset data platform RootData shows that Terra is a decentralized financial infrastructure designed to power currency innovation. Terra provides foundational building blocks for the new digital economy through its decentralized algorithmic stablecoin protocol, oracle system, smart contracts, and large-scale user adoption plans.It is reported that RootData has launched the first "Web3 Hot Projects Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on the weighted frequency of searches by platform users, project click rates, user votes, as well as the popularity and influence on platform X.

ChainCatcher message, according to the popularity index ranking data from the Web3 asset data platform RootData, as of October 14 at 12:00, the top five projects in the Web3 popular projects Top 100 are: Aleo, Scroll, Sui, CARV, and Ithaca.Additionally, Terra Classic has seen the largest ranking increase, rising 803 places overall.It is reported that RootData has launched the first "Web3 Popular Projects Ranking." This popularity ranking helps users capture the real pulse of attention and improve the accuracy of investment decisions through 4.3 million real user behavior data. The ranking is calculated in real-time based on weighted factors such as search frequency, project click rates, user votes, and the popularity and influence on the X platform.

ChainCatcher news, according to market news, Terra blockchain developer Terraform Labs is in talks with a third party to take over part of its operations.

ChainCatcher news, the official Terra X account announced that Terraform Labs continues to discuss with third parties the takeover of the operation of some of our products and services. However, if the negotiations are unsuccessful, these products will be shut down on October 30, 2024. The products and services include:Products: 1. Enterprise Protocol; 2. Warp Protocol; 3. Statio; 4. Alliance Hub.Services: 1. Finder block explorer; 2. Foundation; 3. IBC relayer; 4. Mantlemint, FCD, and API services.