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#LUNC. As of now, Binance and WEEX are actively participating in the burning of Terra Classic (LUNC) tokens. Here are the details: Binance: Binance has been burning LUNC tokens from trading fees on both spot and margin trading pairs. So far, they have burned 13.712 billion LUNC tokens Additionally, Binance has executed 11 LUNC burns, eliminating a total of 35.5 billion LUNC tokens2. The most recent burn involved 2.65 billion LUNC tokens2. Binance’s burning mechanism ensures that LUNC trading fees are excluded from being re-minted3. WEEX: Singapore-based crypto futures trading platform WEEX has committed to burning 30% of LUNC trading fees. This aligns with Binance’s practice of burning 50% of trading fees for the LUNC burn mechanism4. The Terra Classic community has also actively participated in burning over 26.361 billion LUNC tokens$LUNC

#LUNC. As of now, Binance and WEEX are actively participating in the burning of Terra Classic (LUNC) tokens. Here are the details:

Binance:

Binance has been burning LUNC tokens from trading fees on both spot and margin trading pairs.

So far, they have burned 13.712 billion LUNC tokens

Additionally, Binance has executed 11 LUNC burns, eliminating a total of 35.5 billion LUNC tokens2.

The most recent burn involved 2.65 billion LUNC tokens2.

Binance’s burning mechanism ensures that LUNC trading fees are excluded from being re-minted3.

WEEX:

Singapore-based crypto futures trading platform WEEX has committed to burning 30% of LUNC trading fees.

This aligns with Binance’s practice of burning 50% of trading fees for the LUNC burn mechanism4.

The Terra Classic community has also actively participated in burning over 26.361 billion LUNC tokens$LUNC

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#LUNC✅ BINANCE BURN Let me provide you with information about the Binance burn related to Terra Classic (LUNC). Here are the details: Burning Changes: Following recent developments outlined in Proposal 10983 and Proposal 11111, where LUNC burn is being re-minted as a development fund, Binance has made changes to the burning of LUNC trading fees. Starting from December 2022, Binance now burns 50% of the LUNC spot and margin trading fees instead of the previous 100%. The contribution from LUNC trading fees will be delayed until 2023-03-01 to ensure that these fees are excluded from being re-minted. Binance has engaged with the leadership team from the Terra Grants Foundation to create a new burn wallet that prevents re-minting of the burn amount. Validity Period: 2022-12-28 00:00:00 (UTC) until further notice1. Funding for New Projects: In November 2022, Binance announced the Industry Recovery Initiative (IRI), a fund to support crypto and Web3 projects. Developers interested in continuing to build on the LUNC chain can apply for support through the IRI Recent LUNC Burns by Binance: Binance has been actively burning LUNC tokens. As of the last update on 2024-04-28, they have burned a total of 57.66 billion LUNC (which accounts for 51.9% of the total supply). Additionally, Binance has burned 4.38 million USTC (equivalent to 0.0039% of the total supply) in trading fees 2. Recent Specific Burns: Here are some specific burn transactions from Binance: On 2024-04-11, Binance burned 71,690 LUNC (TX Hash: terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe). On 2024-04-03, Binance burned 29,939 LUNC (TX Hash: terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe). On 2024-04-01, Binance burned a significant amount of 4,175,855,418 LUNC (TX Hash: terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe)2. Remember that these burns contribute to reducing the overall supply of LUNC.
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#LUNC✅ Terraform Labs and its former CEO, Do Kwon, have been found guilty of misleading investors in crypto assets. They violated the Securities Act 1933 by selling crypto assets without proper registration 1. Here are the key details: SEC’s Allegations: The SEC alleges that many of the claims Kwon made about Terra were simply made up. Among the more startling claims, the Commission alleges that Kwon transferred 10,000 Bitcoin (BTC) out of Terraform Labs and Luna Foundation Guard (LFG) to a Swiss bank account. That’s a stash worth almost $250 million at today’s prices. Kwon has been transferring BTC from wallets belonging to TerraForm and LFG to a Swiss bank account, where he’s been converting it to cash. Over $100 million in fiat currency has been withdrawn from that Swiss bank between June 2022 and the date of the SEC complaint. This stands in stark contrast to the investors who lost huge amounts of money when TerraUSD (UST) crashed last year. The SEC lawsuit also specifically mentions a pharmacist in California who borrowed $400,000 against their home to purchase UST and a painter in Vermont who invested $20,000 that was otherwise earmarked for his son’s college tuition. Terra’s Partnership with Chai: On the road to becoming the third-largest stablecoin, Kwon made some big claims about the Terra network and UST. However, Terra’s partnership with payments app Chai didn’t involve the kind of integration that Kwon promised, according to the SEC’s lawsuit. Penalties Imposed: The SEC has imposed substantial penalties totaling $5.2 billion on Terraform Labs and its co-founder, Do Kwon. The SEC filed in a New York court, demanding $4.7 billion as repayment and interest. Additionally, they want $520 million in fines: $420 million from Terraform and $100 million from Kwon. Kwon is also facing legal issues in Montenegro and could face charges in the U.S. and South Korea.
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#pinetworkupdates Yesterday marked a record-breaking moment for Pi Network, with approximately 63,561 new wallets created, setting a new milestone in wallet creation counts. The enthusiasm and dedication of the community are unmatched! hokanews,hoka news,hokanews.com,pi coin,coin,crypto,cryptocurrency,blockchain,pi network,pi network open mainnet,news,pi news The Pi Network indeed had a remarkable day with the creation of 63,561 new wallets1. This event highlights the rapid growth and the strong community support for the Pi Network. The network has been gaining traction as a digital currency platform, attracting users from various backgrounds, including those new to the concept of cryptocurrency. Here are some key points about the recent developments in Pi Network: Rapid Growth: The creation of such a large number of wallets in a single day signifies a growing interest in joining the Pi Network1. Community Support: The record-setting number of new wallets is a testament to the enthusiasm and dedication of the Pi Network community1. KYC Processes: The network emphasizes fast and user-friendly Know Your Customer (KYC) processes, which is crucial in the cryptocurrency world. There are reports of users completing the KYC process in as little as 12 minutes1. Mainnet Launch: Pi Network is working towards its mainnet launch, which is a significant step for any cryptocurrency as it transitions from a test network to a live one2. Ecosystem Development: The network is also focusing on boosting its ecosystem by recruiting developers through an ambassador program and spreading Pi coins to encourage app launches2. The Pi Network’s vision is to build a more inclusive and sustainable financial future, and with the increasing number of participants, it’s moving closer to making that vision a reality 1. For more detailed information, you can visit their official communication channels and news updates
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