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Dentons Files Additional Documents in Support of Terraform Labs and Do Kwon’s Motion to Dismiss SEC Lawsuit
Blockchain

Dentons Files Additional Documents in Support of Terraform Labs and Do Kwon’s Motion to Dismiss SEC Lawsuit

Top law firm Dentons has filed supplementary documents in defence of Terraform Labs and its co-founder, Do Kwon, in their ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). The court hearing, which took place on Thursday, focused on whether the digital assets created by Terraform Labs should be classified as securities under an "investment contract." Dentons Lawyers Claim UST Is Not A Security Dentons lawyers, representing Terraform Labs and Do Kwon, strongly assert that the algorithmic stablecoin UST (now USTC) does not qualify as a security, as its primary purpose is practical rather than an investment contract. The additional documents submitted by the legal team support their motion to dismiss the SEC lawsuit and include pertinent evidence from various so...
Terra LUNA Becomes The Second Most Searched Crypto In America Following Bitcoin
Cryptocurrency

Terra LUNA Becomes The Second Most Searched Crypto In America Following Bitcoin

Terra Luna is now the most searched crypto in 14 US states. Notably, the coin has been so much taken by many investors following its fall in May and this has made Google trend data reveal that many American residents are still much interested in it. Per the Google data which was arranged by Fintech Times, Terra (LUNA) is the second most popular cryptocurrency in the United States after Bitcoin. Read Also: The Code To Re-open IBC On Terra Classic Network Is Ready Says Cosmo Developer Terra LUNA Is Now The Second Most Searched Crypto In America The Fintech data noted that over 14 states in the United States conducted online searches for Terra more than any other cryptocurrency.  The Fintech data went further to highlight the states which include Alabama, Arkansas, Califo...
Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People
Blockchain

Do Kwon Says, Terra Was Created To Be an Industry’s Standard, Built As A Stablecoin And Not To Scam People

The CEO and founder of Terraform Labs, Do Kwon has now admitted to his shortcomings in a recent sole interview.  Do Kwon’s personality was seriously put under pressure owing to the May Terra collapse and the algorithm stablecoin TerraUSD (UST). According to Kwon’s video interview with Coinage Media, hosted by Zach Guzman dubbed “inside Crypto’s Largest Collapse”. The short video interview was aired to prepare the people that have longed to see Do Kwon talking about the Terra collapse. https://twitter.com/zGuz/status/1558851374619803649 Do Kwon said that the Terra was not created to scam people but to be a stablecoin, although it failed to be stabled.  “…It was supposed to be a stablecoin but didn’t remain stable. It was started to become industry’s standard, I b...