🌖 Terraform Labs Sparks LUNA and LUNC Price Rally with Key Hearing Date
LUNA and LUNC prices briefly moved upward following a crucial announcement from Terraform Labs. LUNA is trading at $0.3289, reflecting a 0.50% increase, while LUNC climbed 2% to $0.000082. The surge in trading volume suggests growing interest among traders as the company prepares for significant developments.
But what’s causing the surge today? Read on.
Terraform Labs Sets September 19 for Bankruptcy Hearing
Terraform Labs (TFL), the company behind the Terra ecosystem, revealed that the Chapter 11 bankruptcy hearing for Terraform Labs Pte Ltd (TFL) and Terraform Labs Limited (TLL) is scheduled for September 19 at 10:00 AM ET. This hearing marks a pivotal step in the company’s reorganization plan, which has been in progress since the Chapter 11 filing in January. The firm previously reached a $4.47 billion settlement with the U.S. Securities and Exchange Commission (SEC) in June.
