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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.
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 (BTC) to its wallet.
. @LFG_org bought an additional $100M worth of BTC for $UST fx reserves
— Do Kwon 🌕 (@stablekwon) April 13, 2022
Current balance avail here: https://t.co/UNmWPOq7Vh
STORY CONTINUES BELOW
- 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
Sam Reynolds
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
