Luna Foundation Surpasses Tesla As Second Largest Corporate Holder Of Bitcoin
Luna Foundation Guard has acquired an additional $1.5 billion of BTC, surpassing Tesla as the second largest corporate holder of BTC valued over $3 billion.Luna Foundation Guard, the non-profit organization behind Terra’s UST Stablecoin, has acquired $1.5 billion worth of bitcoin. This purchase makes LFG the second-largest corporate holder of bitcoin, surpassing Tesla.The transaction was facilitated by cryptocurrency prime broker Genesis, and cryptocurrency hedge fund 3AC. Luna Foundation Guard (LFG), a non-profit organization focused on developing the Terra ecosystem, has closed a $1.5....
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Terra’s commitment to filling up its coffers with Bitcoin has been solidified once more with another $1.5 billion purchase. This is the fruit of a pledge that the project had made to buy more than $10 billion worth of BTC to serve as a reserve for its stablecoin, UST. More importantly, though is how this boosts the foundation’s standing when it comes to corporations holding the digital asset. Terra Now Holds More BTC Than Tesla Before Terra had begun its bitcoin buying spree, there have been other corporate bodies that had already made the plunge to do so. The likes of MicroStrategy,....
The Terra / Luna / UST collapse keeps on generating headlines. This time, we’ll use the data in ARK’s “The Bitcoin Monthly” report to establish its impact on the bitcoin ecosystem. Remember that the non-profit organization LFG, AKA the Luna Foundation Guard, accumulated BTC to defend UST’s peg to the dollar. In a then-delated May interview, Terra’s Do Kwon said that they were trying to get to $1B in BTC so that “besides Satoshi, we will be the largest single holder of Bitcoin in the world.” Related Reading | Terra Beats Tesla As Second-Largest Corporate Bitcoin Holder After $1.5B....
On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash.
Luna Foundation Adds More Bitcoin to UST Reserve Wallet
LFG purchased another batch of bitcoin on Wednesday, adding to the non-profit’s bitcoin reserves meant to protect the Terra network’s stablecoin, UST. On April 13, 2022, at 1:55 a.m. (UST), the....
The Luna Foundation Guard (LFG), a nonprofit organization, has announced new measures to keep the supply of UST, the flagship stablecoin of the Terra ecosystem, liquid in secondary markets. The protocol has already reached the max issuance of UST per day, but demand is strong enough that the foundation will have to burn more LUNA to guarantee the supply of UST in these markets.
Luna Foundation Guard to Burn 4.2 Million LUNA for UST
The Luna Foundation Guard, an organization dedicated to supporting projects from the Terra ecosystem, has decided to act to increase the supply of UST....
On Sunday, April 10, 2022, the Terra (LUNA) project and Luna Foundation Gaurd (LFG) acquired 4,130 bitcoin worth $176.1 million at the time of settlement. Using today’s bitcoin exchange rates, LFG now has a total of 39,897.98 bitcoin worth $1.7 billion. Luna Foundation Gaurd Obtains $176 Million in Bitcoin for the UST Decentralized Forex Reserve Two days ago, the Luna Foundation Gaurd (LFG) announced a partnership with the Avalanche Foundation and disclosed it would be purchasing $100 million worth of avalanche (AVAX) in an over-the-counter (OTC) exchange. The $100 million in AVAX....