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Luna Foundation Guard
Bitcoin Flirts With $30K During Asia Trading Day as Luna Foundation Guard Fights to Defend UST Peg
Glassnode analyst says change in exchange balance is due to LFG using bitcoin reserves to defend stablecoin peg.
UST’s Bitcoin Reserve Too Late in Coming to Save Dollar Peg
Luna Foundation Guard buying billions of dollars in bitcoin without an infrastructure ready to deploy left Terra’s UST vulnerable to a “Soros-style attack,” an analyst said.
UST Resumes Spiral After Quiet Day Orbiting 90 Cents
Terra’s shaky stablecoin is prompting calls for closer regulation by key U.S. officials.
UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report
The funding is needed because the dollar-pegged stablecoin dropped as low as 60 cents Monday amid broader market turmoil.
Bitcoin Net Transfer Volume on Exchanges Rising to Highest Level in Over 4 Years
The amount of bitcoin flushed onto crypto exchanges is rising to its highest level in over four years. This comes as the Luna Foundation Guard drained its $1.5 billion bitcoin reserve and bought $850 million more in BTC to defend UST’s peg to the U.S. dollar, a move that could have created sell pressure.
Is it Time to Buy the Dip?
Syscoin Foundation President & Lead Developer Jagdeep Sidhu shares his crypto markets analysis and outlook as bitcoin climbs higher after dropping below $30,000. Plus, his take on the systemic risks of the Terra Luna ecosystem as UST depegs and the Luna Foundation Guard closes a $1.5 billion OTC swap of UST for BTC in a deal with Citadel.
Terra's UST Stablecoin Falls as Low as 65 Cents Before Rebounding: What Went Wrong?
"Crypto Critics' Corner" Co-host Bennett Tomlin explains what might have gone wrong in the Terra Luna ecosystem leading to the TerraUSD (UST) stablecoin collapse. Tomlin explains the algorithmic stablecoin's dependence on the luna token and addresses the Luna Foundation Guard’s deployment of bitcoin reserves to rectify the price. Plus, a discussion on how centralized crypto exchanges like Binance are reacting to UST losing its peg to the U.S. dollar.
Binance Restarts LUNA and UST Withdrawals After Brief Suspension
LUNA token was down 52% on the day, while UST recovered slightly to $0.90 at the time of writing.
First Mover Asia: Did Nvidia Profit From Crypto Mining? Consider Its Manufacturing Partners’ Stocks; Cryptos Have a Rough Day
The manufacturer of graphics processing units has been reluctant to acknowledge the role its products play in crypto mining; bitcoin and ether plummet.
Investors Flee Terra’s Anchor as UST Stablecoin Repeatedly Loses $1 Peg
Deposits on the Anchor protocol plunged below $9 billion from $14 billion since Friday after Terra’s stablecoin, UST, struggles to recover to $1. ANC, the protocol’s token, fell 35% during the day.
