1. Delisting Details
2. Community Reactions and Important Legal Updates
3. Terra Luna Classic Community Support

Gemini crypto exchange has revealed plans to delist several digital currencies, including Terra Luna Classic (LUNC), Synthetix (SNX), Qredo (QRDO), and Zebec (ZBC). These tokens are to be delisted on September 20, 2024, following a standard review conducted by the exchange.

Delisting Details

Gemini stated that the decision to delist these cryptocurrencies came after evaluating their sustainability, market applicability, and future prospects. As a result, LUNC, SNX, QRDO, and ZBC no longer align with the exchange's strategic goals and will cease trading.

Community Reactions and Important Legal Updates

The announcement has sparked controversy within the crypto community, especially regarding the possible confusion between wLUNA and LUNC. As of now, Gemini has not provided any explanations on this matter. Meanwhile, the Terra Luna Classic community remains actively engaged in advancing the Terra ecosystem, with a Plan Confirmation Hearing in the Chapter 11 bankruptcy cases of Terraform Labs Pte Ltd and Terraform Labs Limited scheduled for September 19, 2024.

Terra Luna Classic Community Support

Aside from the delisting, the Terra Luna Classic community continues its efforts to stabilize the USTC algorithmic stablecoin pegged to the US Dollar. A new proposal allocates $250,000 to design a sound re-pegging strategy, focusing on the system's stability, security, transparency, decentralization, and scalability.

Gemini exchange users should transfer their LUNC, SNX, QRDO, and ZBC tokens to other wallets by September 20, 2024. However, the overall improvement in the cryptocurrency market and ongoing activities within the Terra ecosystem may alleviate some of the negative impacts.