The non-profit organization said only 313 BTC are now left on the bitcoin reserves for Terra’s UST stablecoin. Luna Foundation Guard (LFG), the non-profit organization holding Terra’s bitcoin reserves, confirmed on Monday morning that it had sold over 80,000 BTC over the past week to acquire TerraUSD (UST) in an attempt to defend its crumbling … Read more
The Luna Foundation Guard was forced to send a majority of its holdings to exchanges as it tried to hold the dollar peg for its Terra stablecoin. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and … Read more
As yet another altcoin nears zero, the event reminds the community why Bitcoin is the only authentic cryptocurrency. Terra is crumbling. The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to … Read more