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Luna Foundation Guard Adds $100M in BTC to UST Reserves

LFG's balance now sits at $2.26 billion, 75% of which is bitcoin.

Updated May 11, 2023, 4:43 p.m. Published Apr 13, 2022, 9:18 a.m.
Terraform Labs CEO Do Kwon on CoinDesk TV in December.
Terraform Labs CEO Do Kwon on CoinDesk TV in December.

The Luna Foundation Guard (LFG), the entity that acts as a resolve protocol for the algorithmic stablecoin UST, has added another $100 million in bitcoin to its wallet.

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  • LFG’s wallet now contains $1.7 billion in BTC, $549.84 million in other USD-denominated stablecoins and $14.74 million in Terra, according to a dashboard it runs.
  • In total, there is 42,410 BTC in LFG's wallet, making its wallet the 19th largest in total bitcoin holdings.
  • Should Luna meet its goal of purchasing $10 billion in bitcoin, it would have the second-largest bitcoin wallet behind Binance’s cold wallet.
  • Bitcoin’s price remains stable midway through the Asia trading day, at $40,115, up 0.2%.

Read more: Tracking Luna Foundation Guard’s Bitcoin Purchases

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  • Tokens like HYPE, STRK, QNT and KAS fell 6%–9% in 24 hours
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