Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin

Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin

On April 6, onchain data shows the Luna Foundation Guard’s (LFG) bitcoin wallet has added 5,040 bitcoin to its reserves. The added funds were worth roughly $221 million at the time of settlement. LFG managed to purchase the bitcoins while bitcoin lost 3.9% against the U.S. dollar during the last 24 hours. LFG Buys the Dip Acquiring 5,040 More Bitcoin The team behind the Terra (LUNA) network and the non-profit based out of Singapore, the Luna Foundation Guard (LFG), continue to stack bitcoin. Less than a week ago, News reported on LFG’s wallet and explained that it....

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Onchain Data Shows Terra’s Luna Foundation Continues to Stack Bitcoin

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, News reported on Terra’s founder Do Kwon discussing how he looks....

How Terra Is Using Its Bitcoin Reserves To Keep UST Stable

Terra, through the Luna Guard Foundation (LFG), has been purchasing bitcoin to use as reserves for its UST stablecoin. This has gone well according to plan and out of the $10 billion worth of bitcoin founder Do Kwon said that the foundation would be buying for its reserves, more than $2.9 billion in BTC has […]

Luna Foundation Guard Discloses Usage of Bitcoin Reserves

The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to try and stabilize the value of UST. The reserve was comprised of more than 80,000 BTC. Luna Foundation Guard Clarifies Reserve Movements The Luna Foundation Guard (LFG), the organization tasked with safeguarding the dollar peg of UST, the....

By The Numbers: Spotlight On LUNA’s Growing Bitcoin Reserves

The nonprofit organization focused on the Terra ecosystem Luna Foundation Guard (LFG) now holds almost 28,000 bitcoin, which translates to $1.3 billion out of its $10 billion total target aimed to back TerraUSD (UST). Related Reading | Terra (LUNA) Will Buy $10 Billion Worth Of Bitcoin. Here’s Why Why Terra Is Buying BTC “The reason why […]

Terraform Labs donates $1.1B for Luna Foundation Guard's reserves

High demand for UST has led to a pool imbalance on Curve Finance, requiring intervention. On Friday, Do Kwon, founder and CEO of Terraform Labs (TFL), which develops the blockchain ecosystem consisting of Terra Luna (LUNA) and the TerraUSD stablecoin (UST), announced that TFL had donated 12 million LUNA ($1.1 billion at the time of publication) to the Luna Foundation Guard (LFG). LFG launched in January to grow the Terra ecosystem and improve the sustainability of its stablecoins. Kwon noted the funds, denominated in LUNA, will be burned to mint UST to grow the LFG's reserves:"We will keep....