Terra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked T...
Terra founder Do Kwon hinted at a future purchase of $3 billion worth of bitcoin to supply the reserves of the protocol in a recent Twitter Space shared with bitcoin enthusiast Udi Wertheimer. In the same Space, Do Kwon explained the new mechanics that the Terra ecosystem is introducing in order to use bitcoin as collateral for its flagship decentralized stablecoin, UST. Do Kwon Directs the Terra Ecosystem to Bitcoin Do Kwon, founder of Terra and Terraform Labs, made some important announcements regarding the future of the Terra ecosystem and its tokens in a Twitter Space hosted....
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A major new BTC acquisition for Terra's new U.S. dollar stablecoin is getting commentators and the market excited. Bitcoin (BTC) showed signs of wanting higher levels still on March 22 as Wall Street trading saw a return above $43,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTerra co-founder: 'Most of' $3 billion still unpurchasedData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued its newly confident stride to three-week highs.The pair had already gained thanks to encouraging macro signs from China, but it was news from within that really....
Terra co-founder Do Kwon reveals that the firm will be buying Bitcoin "in perpetuity" to back new mints of its UST stablecoin. Bitcoin (BTC) is the collateral asset of choice for the world's biggest decentralized stablecoin, and one of its top executives says there was no other.Speaking to Bloomberg on April 4, Do Kwon, co-founder of Blockchain protocol Terra, pledged to continue buying BTC to back the firm's stablecoin, TerraUSD (UST).Kwon: BTC buys will continue "in perpetuity"Terra has made waves inside and outside the crypto community in recent weeks thanks to its massive Bitcoin....
Terra’s new LUNA 2.0 token has lost 54% in value in the last two weeks, after reaching $11.33 per unit on May 30. Meanwhile, the whistleblower Fatman has accused Terra’s co-founder Do Kwon of cashing out $2.7 billion a few months before the UST de-pegging incident. Kwon, however, has been keeping tabs on Fatman’s accusations and he claims the allegations are “categorically false.” LUNA 2.0 Token Drops 54% in Value During the Last 2 Weeks The LUNA 2.0 rebirth token has been extremely lackluster in terms of market performance during the past two weeks.....
A third tranche of USDT leaves a wallet thought to hold funds earmarked to purchase at least $3 billion of Bitcoin. Bitcoin (BTC) returned to $43,000 on March 24 as new purchases by Blockchain protocol Terra fuelled optimism.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewThe BTC buys keep comingData from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to crack and secure its highest levels in weeks Thursday.The pair had consolidated day before, the sideways action on lower timeframes giving way to a "grind" upwards, which took Bitcoin to $43,492 — a price....
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 […]