Foundation / 2 posts found
The Luna Foundation Guard’s 80k Bitcoin Sold to Save UST’s Peg Were Likely Scooped Up By BTC Whales
Summary: Earlier this month, the Luna Foundation Guard drained its 80k Bitcoin reserves to save UST’s peg. According to Glassnode, the Bitcoin sold to save UST’s peg likely ended up being bought by small-time BTC whales owning less than 100 coins. The Luna Foundation Guard now holds 313 Bitcoin, down from 80,394 BTC declared on May 7th, 2022. According to an analysis by the team at Glassnode, the Luna Foundation Guard’s (LFG) 80k Bitcoin sold in an attempt to save UST’s peg likely ended up being bought by small BTC whales holding less than 100 coins. The Glassnode team shared […]
The Luna Foundation Guard Allegedly Sent 52k Bitcoin to Gemini and 28k to Binance to Try Stabilize UST’s Peg
Summary: The crypto community has begun investigating the flow of the Luna Foundation Guard’s Bitcoin reserves during USTs depegging event According to one analysis, 52k Bitcoin was sent to Gemini and another 28k to Binance, but it is not clear if the assets were sold Another analysis by CryptoQuant states that 37k BTC moved from the LFG wallet to Gemini, but there was no significant increment in trade volume Bitcoin reserves held by the Luna Foundation Guard (LFG) have been the subject of speculation as to where all that BTC went during the depegging of UST. According to crypto-twitter community […]