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Terra’s LFG Acquires $1.5B More Bitcoin—With 3AC’s Help
Cryptocurrency Key Takeaways Terra’s Luna Foundation Guard has bought more than 37,000 more Bitcoin. The value of Terra’s UST stablecoin is backed in part by its Bitcoin reserves. Terraform Labs’ CEO Do Kwon has been clear that he wants to see UST dominate the stablecoin market. The Luna Foundation Guard has added to its Bitcoin reserve fund with assistance from Genesis Trading and Three Arrows Capital. Cryptocurrency LFG Buys Another 37,863 Bitcoin The Luna Foundation Guard isn’t done accumulating Bitcoin. The nonprofit organization, which launched this year to stabilize Terra’s UST stablecoin, announced Thursday that it had acquired another 37,863 […]