According to CoinDesk, Do Kwon, co-founder of Terraform Labs, has once again appealed against the decision of the High Court of Montenegro to uphold the extradition requests from the United States and South Korea.

According to The Block, on December 7th, Terraform Labs requested a New York judge to let the jury decide whether UST and LUNA tokens are securities. In a letter written to Judge Jed Rakoff on Monday, Terraform Labs lawyer David Kornblau stated that the jury should determine "whether the SEC has fulfilled its responsibility to prove that UST, LUNA, wLUNA, and MIR tokens are securities." Previously, the U.S. Securities and Exchange Commission (SEC) argued in a document that juries almost never decide whether an asset belongs to an investment contract, and that this matter should be decided by a judge. In February of this year, the SEC sued Terraform Labs and its co-founder Do Kwon, accusing them of raising billions of dollars through the issuance and sale of unregistered securities.

In documents submitted to the US Southern District Court of New York, the SEC argued that, according to the committee's guidance, the issue of whether cryptocurrencies qualify as securities is "a legal issue to be determined by the court, not by a jury." The SEC claims that the question of whether certain cryptocurrencies in the Terraform Labs case meet the standards for securities under the Howey test (the SEC's standard for determining what qualifies as a security) has sparked discussion, and SEC lawyers have asked the judge to determine whether certain digital assets are securities, rather than leaving it to a jury to decide.

On December 1, Terraform Labs (TFL) announced today that it has deployed $2.65 million in liquidity funds to the White Whale project in the Terra ecosystem DeFi. The specific fund allocation is as follows: $1.5 million for the LUNA/axlUSDC trading pair, $1 million for the wBTC/LUNA trading pair, and $150,000 for the LUNA/WHALE trading pair.

Jump Crypto Holdings, the crypto arm of Jump Trading, has provided materials to the United States Securities and Exchange Commission (SEC) in the Terraform Labs case. The materials were approved for confidential treatment by Judge Jed Rakoff in a filing on Nov. 28. Jump Crypto Holdings was reportedly under scrutiny by the SEC for its involvement in the events leading to the depegging of TerraUSD (UST) and the downfall of Terra. Before Terra's collapse, Jump Crypto played a significant role in the firm's ecosystem, participating in funding rounds supposedly to establish a UST reserve.

On X platform, on-chain analyst John Galt stated that the development team of Terra, Terraform Labs, has deployed approximately $8 million worth of mainstream cryptocurrencies (BTC, ETH, USDC, SOL) into DeFi applications on the Terra blockchain. Currently, Terraform Labs' multi-signature address holds $10 million USDC, $3 million worth of BTC, as well as tokens such as MATIC, ARB, and MKR.<br>John Galt then added that Chris Amani took over as CEO of Terraform Labs about six months ago, and there are still some old employees from before the LUNA collapse, but also some new hires. <br>Finally, John Galt stated that Terraform Labs' treasury reserves are rumored to be still quite large, "much larger" than the assets they have deployed to the multi-signature address.

Terraform Labs, the company behind the Terra blockchain, has acquired Pulsar Finance, a startup specializing in cross-chain portfolio management and analytics. This move comes amidst ongoing legal challenges for Terraform, including a lawsuit filed by the SEC accusing the company of selling unregistered crypto asset securities and engaging in investor fraud. Despite these challenges, Terraform's new CEO, Chris Amani, expressed optimism about the acquisition and emphasized the company's focus on utility and blockchain ecosystem development. Terraform plans to integrate Pulsar's technology into its cross-chain wallet and infrastructure tools to enhance its technological capabilities.

Terraform Labs, the development team behind Terra, has announced the acquisition of Pulsar Finance, a cross-chain investment portfolio management and analysis startup. Pulsar Finance was founded in 2021 and currently supports 96 networks and over 700 protocols. The platform provides users with a simple way to track the performance of a range of tokens, DeFi positions, and NFTs. (The Block)

Terraform Labs and its co-founder Do Kwon have submitted a motion for summary judgment to a judge in the Southern District of New York, asking the judge to dismiss the SEC's allegations of involvement in a multi-billion dollar securities fraud. The company stated that after two years of investigation, collecting over 20 pieces of evidence, exchanging over 2 million pages of documents and data, the SEC has not proven that the defendants did anything wrong. Terraform is asking the judge to rule that the SEC has not sufficiently proven its case to justify a trial.