Luna Foundation Guard acquires additional 37,863 BTC as part of reserve strategy
The acquisition, totaling roughly $1.5 billion, will be used to further backstop Terra Luna’s algorithmic stablecoin UST. Luna Foundation Guard (LFG), a Singapore-based nonprofit tied to the Terra Luna ecosystem, has raised another $1.5 billion to further expand its already hefty Bitcoin (BTC) reserves.The raise allowed LFG to acquire 37,863 BTC via over-the-counter swaps with broker Genesis Trading and an additional purchase from Three Arrows Capital, a leading crypto venture capital firm. The specific breakdown of the deal included a $1 billion over-the-counter swap with Genesis for $1....
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According to a report published on Thursday, the Luna Foundation Guard (LFG) explained that it acquired 37,863 bitcoin worth more than $1.4 billion through two over-the-counter deals. The LFG now holds 80,394 bitcoin in its reserves currently worth just under $3 billion using today’s exchange rates. Luna Foundation Guard Scoops up 37,863 Bitcoin On May 5, 2022, the Luna Foundation Guard reported that it purchased 37,863 bitcoin (BTC), worth a touch over $1.4 billion at the time of writing. LFG, the non-profit based out of Singapore aims to have $10 billion of stablecoin reserves by....
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....
The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will aid UST, the companion stablecoin of the Luna ecosystem, to maintain its peg.
Luna Foundation Guard Launches to Support Terra Ecosystem
The Luna Foundation Guard, a non-profit organization, has launched to help support and maintain the....
After receiving a $1.1B donation last month, the Luna Foundation Guard has received another 10M LUNA tokens from Terraform Labs. Terra (LUNA) blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices. The Luna Foundation Guard (LFG) is a nonprofit organization attached to Terra that is tasked with collateralizing the network’s algorithmic stablecoin Terra USD (UST) to keep it pegged with the U.S. dollar. Terraform Labs’ latest announcement came via Twitter on April 14, but did not outline what the funds will....
The Luna Foundation Guard (LFG) purchased an additional 123.89 bitcoin on Friday worth close to $5 million at the time of settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning, the non-profit organization has approximately 42,530.827 bitcoin.
LFG Acquires Another Batch of Bitcoins for the Project’s Decentralized UST Forex Reserves
Ever since Terraform Labs founder Do Kwon said the Terra project would purchase $3 billion worth of bitcoin for Terra’s decentralized UST forex reserves, LFG....