Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance an...
After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was sent, according to the firm’s network surveillance tools. LFG Bitcoin Stash Deposited Into 2 Digital Currency Exchanges According to Elliptic’s Blockchain Analytics Software While reflecting on the recent crypto....
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Terra (LUNA) has been aggressive about filling up its reserves with trusted cryptocurrencies to serve as a backup for its stablecoin UST. This has evolved over time to include a number of various cryptocurrencies that now make up its reserves sitting at $2.38 billion. This is still a long way from where the Luna Foundation plans for its reserves to be, making it a work in progress. In this report, we take a look at these reserve currencies and the portion allocated to each one. Diving Into Terra’s Reserves As mentioned previously, Terra’s crypto reserves have gone up to as high as $2.38....
This week there’s been a lot of talk about Terra’s Luna Foundation purchasing bitcoin to hold in its reserves pool. Onchain data shows the organization’s wallet has transferred at least three tranches of tether worth $125 million each. Furthermore, reports show that the Luna Foundation has confirmed the recent bitcoin purchases. Onchain Data Indicates Terra’s Luna Foundation Has Sent 3 Tranches of Tether to Purchase Bitcoin, Foundation Confirms Bitcoin Address Two days ago, Bitcoin.com News reported on Terra’s founder Do Kwon discussing how he looks....
Binance, the largest crypto exchange in the world, just released its 11th report for its reserves, and the numbers are staggering as always. According to the report, Binance’s XRP holdings, in particular, have increased in the past month. This is evident, as there have been reports of investors depositing XRP into exchanges in the past month. Binance Releases Proof Of Reserves Showing Massive XRP Holdings According to Binance’s Proof of Reserves report, the exchange holds a staggering amount of XRP to cover 104.15% of customer balances. Related Reading: When Are AMMs Coming To....
The two main organizations behind the development of the Terra blockchain have purchased a combined $200M in AVAX while Near Protocol is rumored to release a new stablecoin. Terraform Labs (TFL) and the Luna Foundation Guard (LFG) have announced they have purchased a combined $200 million worth of AVAX tokens from the Avalanche Foundation. TFL, the company responsible for the development of the Terra blockchain, swapped $100 million worth of Terra’s native token, LUNA for AVAX tokens, in order to “strategically align ecosystem incentives”, according to Terra’s twitter. LFG, a non-profit....
DAI tops it off as the strongest stablecoin to date despite Terra’s plunge. USDT and UST may have plummeted – but not DAI. It’s been a brutal two weeks in the crypto space especially with the devastating collapse of Terra’s stablecoin UST, which is currently trading at a little below 6 cents. Suggested Reading | […]