Share this article
Luna Foundation Guard Adds Nearly $230M of Bitcoin to Stack
The foundation now has bigger exposure to bitcoin than the U.S. electric-car maker Tesla.
Updated May 11, 2023, 5:27 p.m. Published Apr 6, 2022, 11:28 a.m.
Luna Foundation Guard (LFG), a non-profit organization mandated to build reserves supporting smart contract blockchain Terra's dollar-pegged stablecoin UST, returned to the crypto market on Wednesday, snapping up bitcoin (BTC) worth $227 million.
- LFG purchased 5,040 BTC, boosting its stash to 35,768 BTC valued at $1.6 billion at the current market price of $45,100, the foundation's confirmed bitcoin address shows.
- That's the first significant purchase since March 30. The foundation acquired about $125 million worth of bitcoin each day, starting from March 22 to March 25 and allocated $160 million on March 26.
- LFG announced in February that it had raised $1 billion through an over-the-counter sale to build a bitcoin reserve as an additional layer of security for UST.
- The reserve size was increased to $3 billion last month, with Terraform Labs founder and CEO Do Kwon tweeting plans to eventually build a $10 billion bitcoin stash.
- The foundation's buying spree has put it ahead of the U.S. electric car maker Tesla (TSLA), which holds $1.26 billion worth of BTC on its balance sheet.
- The latest purchase comes as macro jitters weigh over bitcoin, offering the foundation an opportunity to load up at cheap prices.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Read More: What Is LUNA and UST? A Guide to the Terra Ecosystem
UPDATE (April 6, 11:31 UTC): Adds "nearly" in the headline.
More For You
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
알아야 할 것:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
