Terra Classic (LUNC) burns on track.

Do Kwon <a href="https://twitter.com/stablekwon">@stablekwon</a>, founder of Terra on Twitter: "I think the time has come for <a href="https://twitter.com/GenesisTrading">@GenesisTrading</a> to reveal if they provided the $1B UST shortly before the crash to SBF or Alameda - the purchase from LFG was represented as stemming from “interest to participate in the Terra Defi ecosystem” - not to provide ammo for a peg attack. &nbsp;

After massive FUD due to Terraform Labs ending support for Terra Station risked the survival of Terra Classic (LUNC), the community has finally found a life. Terra Classic blockchain tokens <a href="https://coingape.com/lunc-news-latest-updates-dec-8-terra-classic-price-soars-6-ustc-20/" target="_blank">LUNC and USTC have rallied</a> over 6% and 20% in the last 24 hours, respectively.

Terra Rebels will no longer be providing support for the Terra Station wallet. Instead, they will be focusing efforts on the Rebel Station wallet.

In particular, one token that continues to be among the most trending assets despite the collapse of the Terraform labs is the Terra Classic (<a href="https://finbold.com/cryptocurrency/terra-luna-classic/">LUNC</a>) token, the original chain of the collapsed Terra (<a href="https://finbold.com/topic/luna/">LUNA</a>) ecosystem, which gained 12% in just 24 hours, adding <a href="https://finbold.com/terra-classic-gains-12-in-a-day-adding-100-million-to-luncs-market-cap/">over $100 million</a> to LUNC’s market cap on December 2 alone.

A wallet holding a lump of Terra Classic tokens on the already bankrupted FTX exchange has just been discovered, giving a number of community members a reason to believe that LUNC circulating supply is about to see a massive reduction.

There are a few things to note as the Terra Classic Network is set to re-open IBC channels tomorrow.

Cosmos Capybara, a Terra Classic community member, has <a href="https://classic-agora.terra.money/t/signaling-proposal-lunc-community-requests-osmosis-support-the-burn-tax/48607" target="_blank">published</a> a signaling proposal on agora with the intent of the Terra Classic community showing that it wants Osmosis to support the burning of Terra Luna Classic (LUNC) off-chain.

Terra Classic (LUNC) has secured the top spot among assets with the highest social activity, following Binance’s latest burn.

A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with those of 3 Terra investors and 4 developers.