The Luna Foundation Guard continues with BTC purchases to back its stablecoin, with the latest one worth roughly $1.5 billion.
Singapore-based Luna Foundation Guard made yet another bitcoin purchase of $1.5 billion in Bitcoin for its UST stablecoin reserve.on Thursday , LFG raised the funds through a $1 billion over-the-counter swap with cryptocurrency broker Genesis and a $500 million worth of bitcoin purchase from hedge fund manager Three Arrows Capital.. Following the latest purchase, the UST algorithmic stablecoin reserve now holds around $3.
5 billion in bitcoin, making it one of the top 10 BTC holders globally.$10 billion worth of BTC as collateral for UST. Do Kwon hopes to achieve this goal by the end of Q3 2022.“For the first time, you’re starting to see a pegged currency that is attempting to observe the bitcoin standard. It’s making a strong directional bet that keeping a lot of those foreign reserves in the form of a digital native currency is going to be a winning recipe.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Luna Foundation Guard Further Bolsters Stablecoin Reserve by Raising $1.5 Billion in BitcoinThe Luna Foundation Guard has acquired another $1.5 billion in bitcoin for its UST reserve through an OTC sale of luna, its governance token.
Read more »
Luna Foundation Guard buys additional $1.5 billion in bitcoin backing for USTThe Luna Foundation Guard now holds $3 billion worth of bitcoin as reserve backing for the TerraUsD (UST) stablecoin.
Read more »
Luna Foundation Acquires $1.4 Billion in Bitcoin, Decentralized Reserve Stash Rises to 80,394 BTC – Bitcoin NewsThe LFG now holds 80,394 bitcoin in its reserves currently worth just under $3 billion using today’s exchange rates.
Read more »
Luna Foundation Guard Further Bolsters Stablecoin Reserve by Raising $1.5 Billion in BitcoinThe Luna Foundation Guard has acquired another $1.5 billion in bitcoin for its UST reserve through an OTC sale of luna, its governance token.
Read more »
Luna Foundation Guard buys additional $1.5 billion in bitcoin backing for USTThe Luna Foundation Guard now holds $3 billion worth of bitcoin as reserve backing for the TerraUsD (UST) stablecoin.
Read more »
Luna Foundation Acquires $1.4 Billion in Bitcoin, Decentralized Reserve Stash Rises to 80,394 BTC – Bitcoin NewsThe LFG now holds 80,394 bitcoin in its reserves currently worth just under $3 billion using today’s exchange rates.
Read more »