CandleFocus Terra Luna Classic Burns LUNC And USTC Holdings, LUNC Price To $1?
2024-11-04
Author: Content Editor
Terraform Labs (TFL) has completed a significant token burn to comply with a settlement agreement with the U.S. Securities and Exchange Commission (SEC). The burn involved removing 251 billion Terra Luna Classic (LUNC) and 264 million TerraClassicUSD (USTC) tokens from circulation. This action was necessary for TFL to dispose of specific assets held in its Shuttle Bridge wallets as mandated by the SEC.
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