NFT News Daily TheBittimes.com

The Terra Classic (LUNC) community has formally approved a proposal to cease all processes of minting and reminting of USTC.  As the community endeavors to restore the USTC stablecoin’s peg to $1 and revitalize LUNC, the proposal presents an opportunity for institutions like the cryptocurrency exchange Binance to start the process of burning USTC, recognizing that the minting and reminting of USTC has concluded. The proposal 11784 “Stop Minting and Reminting of USTC” has been approved by the community, if Binance agrees to burn USTC, it will help the Terra Luna Classic community repeg USTC to $1. In turn, the price of LUNC has shot up, with the digital asset now leading the top 100 digital assets in the crypto market in gains on September 22. Lunc is up 7.77% on the day, adding as much as $30 million to its market cap in under 24 hours amid the news. Notably, Zilliqa (ZIL) and ApeCoin (APE) rank second and third with 6.19% gains and 2%, respectively, among the top 100 cryp...

The Securities and Exchange Commission has charged Los Angeles-based entertainment company Impact Theory. The charges are on the grounds of conducting an illegal securities offering of non-fungible tokens that raised approximately $30 million. According to the SEC, Impact Theory sold three tiers of NFTs called “Founder’s Keys” to the public from October to December 2021, leading buyers to view the NFTs as an investment in Impact Theory ’s business success. However, the company failed to register the NFTs as sec urities or file the required disclosures as part of the sale. Also read: Hong Kong Launches First Crypto Trading Platform, HashKey SEC ordered Impact Theory to pay $6 million The SEC ordered Impact Theory to pay over $6 million in penalties and ill-gotten gains disgorgement for the unregistered securities sale. The company will also set up a fund to return money to the founder’s key buyers. This marks the SEC’s first en...