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Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

December 24, 2022 - Updated on April 10, 2023

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November 24, 2024

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The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

• The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
  • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
    • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
      • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

        \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

        ---

        \n\n\n\n

        The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

        Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

        The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

        The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

        On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

        On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

        Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

        \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

        LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

        Most Read

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        Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

        December 24, 2022 - Updated on April 10, 2023

        Artificial Intelligence

        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

        December 19, 2024

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        November 24, 2024

        Artificial Intelligence

        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

        November 24, 2024

        Subscribe To Our Newsletter

        By subscribing, you agree with our privacy and terms.

        Type your email here

        >

        Follow The Distributed

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        ADVERTISEMENT

        \n

        <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

        The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

        • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
          • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
            • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
              • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                ---

                \n\n\n\n

                The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                December 24, 2022 - Updated on April 10, 2023

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                Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                December 19, 2024

                Artificial Intelligence

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                November 24, 2024

                Artificial Intelligence

                Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                November 24, 2024

                Subscribe To Our Newsletter

                By subscribing, you agree with our privacy and terms.

                Type your email here

                >

                Follow The Distributed

                Twitter Instagram Youtube LinkedIn Facebook RSS

                

                ADVERTISEMENT

                \n

                • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                  <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                  The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                  • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                    • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                      • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                        • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                          \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                          ---

                          \n\n\n\n

                          The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                          Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                          The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                          The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                          On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                          On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                          Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                          \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                          LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                          Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                          December 24, 2022 - Updated on April 10, 2023

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                          Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                          December 19, 2024

                          Artificial Intelligence

                          Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

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                          November 24, 2024

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                          Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                          November 24, 2024

                          Subscribe To Our Newsletter

                          By subscribing, you agree with our privacy and terms.

                          Type your email here

                          >

                          Follow The Distributed

                          Twitter Instagram Youtube LinkedIn Facebook RSS

                          

                          ADVERTISEMENT

                          \n

                          • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                            • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                              <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                              The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                              • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                  • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                    • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                      ---

                                      \n\n\n\n

                                      The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                      Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                      The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                      The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                      On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                      On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                      Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                      \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                      LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                      Most Read

                                      Bitcoin

                                      Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                      December 24, 2022 - Updated on April 10, 2023

                                      Artificial Intelligence

                                      Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                      December 19, 2024

                                      Artificial Intelligence

                                      Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                      August 15, 2024

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                                      Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                      November 24, 2024

                                      Artificial Intelligence

                                      Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                      November 24, 2024

                                      Subscribe To Our Newsletter

                                      By subscribing, you agree with our privacy and terms.

                                      Type your email here

                                      >

                                      Follow The Distributed

                                      Twitter Instagram Youtube LinkedIn Facebook RSS

                                      

                                      ADVERTISEMENT

                                      \n

                                      The Repercussions<\/h2>\n\n\n\n

                                      • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                        • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                          <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                          The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                          • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                            • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                              • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                  ---

                                                  \n\n\n\n

                                                  The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                  Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                  The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                  The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                  On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                  On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                  Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                  \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                  LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                                  Most Read

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                                                  Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                  December 24, 2022 - Updated on April 10, 2023

                                                  Artificial Intelligence

                                                  Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                  December 19, 2024

                                                  Artificial Intelligence

                                                  Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                  August 15, 2024

                                                  Banking

                                                  Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                  November 24, 2024

                                                  Artificial Intelligence

                                                  Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                  November 24, 2024

                                                  Subscribe To Our Newsletter

                                                  By subscribing, you agree with our privacy and terms.

                                                  Type your email here

                                                  >

                                                  Follow The Distributed

                                                  Twitter Instagram Youtube LinkedIn Facebook RSS

                                                  

                                                  ADVERTISEMENT

                                                  \n

                                                  • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                    The Repercussions<\/h2>\n\n\n\n

                                                    • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                      • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                        <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                        The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                        • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                          • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                            • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                              • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                ---

                                                                \n\n\n\n

                                                                The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                                Bitcoin

                                                                Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                December 24, 2022 - Updated on April 10, 2023

                                                                Artificial Intelligence

                                                                Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                                December 19, 2024

                                                                Artificial Intelligence

                                                                Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                                August 15, 2024

                                                                Banking

                                                                Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                                November 24, 2024

                                                                Artificial Intelligence

                                                                Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                November 24, 2024

                                                                Subscribe To Our Newsletter

                                                                By subscribing, you agree with our privacy and terms.

                                                                Type your email here

                                                                >

                                                                Follow The Distributed

                                                                Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                

                                                                ADVERTISEMENT

                                                                \n

                                                                • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                  • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                    The Repercussions<\/h2>\n\n\n\n

                                                                    • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                      • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                        <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                        The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                        • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                          • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                            • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                              • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                ---

                                                                                \n\n\n\n

                                                                                The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                                                Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                                December 24, 2022 - Updated on April 10, 2023

                                                                                Artificial Intelligence

                                                                                Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                                                December 19, 2024

                                                                                Artificial Intelligence

                                                                                Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                                                August 15, 2024

                                                                                Banking

                                                                                Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                                                November 24, 2024

                                                                                Artificial Intelligence

                                                                                Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                November 24, 2024

                                                                                Subscribe To Our Newsletter

                                                                                By subscribing, you agree with our privacy and terms.

                                                                                Type your email here

                                                                                >

                                                                                Follow The Distributed

                                                                                Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                                

                                                                                ADVERTISEMENT

                                                                                \n

                                                                                • 12th May, Terra, Twitter<\/a>: \"TFL is also initiating three more emergency actions: 1. Proposal to burn the remaining UST in the community pool. 2. TFL will burn the remaining 371 million UST cross-chain on Ethereum. 3. TFL just staked 240 million $LUNA to defend from network governance attacks.\"<\/li><\/ul>\n\n\n\n
                                                                                  • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                                    • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                                      The Repercussions<\/h2>\n\n\n\n

                                                                                      • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                                        • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                                          <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                                          The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                                          • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                            • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                                              • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                                                • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                                  \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                                  ---

                                                                                                  \n\n\n\n

                                                                                                  The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                                  Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                                  The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                                  The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                                  On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                                  On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                                  Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                                  \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                                  LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                                                                                  Most Read

                                                                                                  Bitcoin

                                                                                                  Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                                                  December 24, 2022 - Updated on April 10, 2023

                                                                                                  Artificial Intelligence

                                                                                                  Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                                                                  December 19, 2024

                                                                                                  Artificial Intelligence

                                                                                                  Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                                                                  August 15, 2024

                                                                                                  Banking

                                                                                                  Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                                                                  November 24, 2024

                                                                                                  Artificial Intelligence

                                                                                                  Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                                  November 24, 2024

                                                                                                  Subscribe To Our Newsletter

                                                                                                  By subscribing, you agree with our privacy and terms.

                                                                                                  Type your email here

                                                                                                  >

                                                                                                  Follow The Distributed

                                                                                                  Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                                                  

                                                                                                  ADVERTISEMENT

                                                                                                  \n

                                                                                                  • 12th May, Terra, Twitter<\/a>: \"The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads\" adding \"To expedite this goal, several measures are being taken. First, the current Prop 1164<\/a> will expand the base pool size and accelerate the burn rate of UST \u2013 helping deflate on-chain spreads.\"<\/li><\/ul>\n\n\n\n
                                                                                                    • 12th May, Terra, Twitter<\/a>: \"TFL is also initiating three more emergency actions: 1. Proposal to burn the remaining UST in the community pool. 2. TFL will burn the remaining 371 million UST cross-chain on Ethereum. 3. TFL just staked 240 million $LUNA to defend from network governance attacks.\"<\/li><\/ul>\n\n\n\n
                                                                                                      • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                                                        • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                                                          The Repercussions<\/h2>\n\n\n\n

                                                                                                          • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                                                            • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                                                              <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                                                              The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                                                              • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                                                                  • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                                                                    • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                                                      \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                                                      ---

                                                                                                                      \n\n\n\n

                                                                                                                      The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                                                      Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                                                      The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                                                      The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                                                      On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                                                      On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                                                      Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                                                      \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                                                      LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                                                                                      Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                                                                      December 24, 2022 - Updated on April 10, 2023

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                                                                                                                      Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                                                      November 24, 2024

                                                                                                                      Subscribe To Our Newsletter

                                                                                                                      By subscribing, you agree with our privacy and terms.

                                                                                                                      Type your email here

                                                                                                                      >

                                                                                                                      Follow The Distributed

                                                                                                                      Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                                                                      

                                                                                                                      ADVERTISEMENT

                                                                                                                      \n

                                                                                                                      • 11th May, Do Kwon, Twitter<\/a>: \"I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.\" This was the first apology from Terra founder Do Kwon.<\/li><\/ul>\n\n\n\n
                                                                                                                        • 12th May, Terra, Twitter<\/a>: \"The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads\" adding \"To expedite this goal, several measures are being taken. First, the current Prop 1164<\/a> will expand the base pool size and accelerate the burn rate of UST \u2013 helping deflate on-chain spreads.\"<\/li><\/ul>\n\n\n\n
                                                                                                                          • 12th May, Terra, Twitter<\/a>: \"TFL is also initiating three more emergency actions: 1. Proposal to burn the remaining UST in the community pool. 2. TFL will burn the remaining 371 million UST cross-chain on Ethereum. 3. TFL just staked 240 million $LUNA to defend from network governance attacks.\"<\/li><\/ul>\n\n\n\n
                                                                                                                            • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                                                                              • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                                                                                The Repercussions<\/h2>\n\n\n\n

                                                                                                                                • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                                                                                  • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                                                                                    <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                                                                                    The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                                                                                    • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                      • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                                                                                        • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                                                                                          • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                                                                            \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                                                                            ---

                                                                                                                                            \n\n\n\n

                                                                                                                                            The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                                                                            Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                                                                            The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                                                                            The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                                                                            On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                                                                            On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                                                                            Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                                                                            \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                                                                            LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                                                                                                                            Most Read

                                                                                                                                            Bitcoin

                                                                                                                                            Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                                                                                            December 24, 2022 - Updated on April 10, 2023

                                                                                                                                            Artificial Intelligence

                                                                                                                                            Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                                                                                                            December 19, 2024

                                                                                                                                            Artificial Intelligence

                                                                                                                                            Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                                                                                                            August 15, 2024

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                                                                                                                                            Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                                                                                                            November 24, 2024

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                                                                                                                                            Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                                                                            November 24, 2024

                                                                                                                                            Subscribe To Our Newsletter

                                                                                                                                            By subscribing, you agree with our privacy and terms.

                                                                                                                                            Type your email here

                                                                                                                                            >

                                                                                                                                            Follow The Distributed

                                                                                                                                            Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                                                                                            

                                                                                                                                            ADVERTISEMENT

                                                                                                                                            \n

                                                                                                                                            • 11th May, Do Kwon, Twitter<\/a>: \"Close to announcing a recovery plan for $UST. Hang tight.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                              • 11th May, Do Kwon, Twitter<\/a>: \"I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.\" This was the first apology from Terra founder Do Kwon.<\/li><\/ul>\n\n\n\n
                                                                                                                                                • 12th May, Terra, Twitter<\/a>: \"The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads\" adding \"To expedite this goal, several measures are being taken. First, the current Prop 1164<\/a> will expand the base pool size and accelerate the burn rate of UST \u2013 helping deflate on-chain spreads.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                                  • 12th May, Terra, Twitter<\/a>: \"TFL is also initiating three more emergency actions: 1. Proposal to burn the remaining UST in the community pool. 2. TFL will burn the remaining 371 million UST cross-chain on Ethereum. 3. TFL just staked 240 million $LUNA to defend from network governance attacks.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                                    • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                                                                                                      • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                                                                                                        The Repercussions<\/h2>\n\n\n\n

                                                                                                                                                        • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                                                                                                          • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                                                                                                            <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                                                                                                            The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                                                                                                            • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                              • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                                                                                                                • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                  • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                                                                                                    \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                                                                                                    ---

                                                                                                                                                                    \n\n\n\n

                                                                                                                                                                    The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                                                                                                    Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                                                                                                    The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                                                                                                    The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                                                                                                    On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                                                                                                    On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                                                                                                    Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                                                                                                    \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                                                                                                    LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

                                                                                                                                                                    Most Read

                                                                                                                                                                    Bitcoin

                                                                                                                                                                    Do Kwon Cashes Out Almost 10 BTC After Fleeing To Serbia

                                                                                                                                                                    December 24, 2022 - Updated on April 10, 2023

                                                                                                                                                                    Artificial Intelligence

                                                                                                                                                                    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents

                                                                                                                                                                    December 19, 2024

                                                                                                                                                                    Artificial Intelligence

                                                                                                                                                                    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations

                                                                                                                                                                    August 15, 2024

                                                                                                                                                                    Banking

                                                                                                                                                                    Indian Central Bank’s Cloud Computing Venture Aims To Democratize Financial Technology

                                                                                                                                                                    November 24, 2024

                                                                                                                                                                    Artificial Intelligence

                                                                                                                                                                    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                                                                                                    November 24, 2024

                                                                                                                                                                    Subscribe To Our Newsletter

                                                                                                                                                                    By subscribing, you agree with our privacy and terms.

                                                                                                                                                                    Type your email here

                                                                                                                                                                    >

                                                                                                                                                                    Follow The Distributed

                                                                                                                                                                    Twitter Instagram Youtube LinkedIn Facebook RSS

                                                                                                                                                                    

                                                                                                                                                                    ADVERTISEMENT

                                                                                                                                                                    \n

                                                                                                                                                                    The Recovery Plan<\/h2>\n\n\n\n

                                                                                                                                                                    • 11th May, Do Kwon, Twitter<\/a>: \"Close to announcing a recovery plan for $UST. Hang tight.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                                                      • 11th May, Do Kwon, Twitter<\/a>: \"I understand the last 72 hours have been extremely tough on all of you - know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.\" This was the first apology from Terra founder Do Kwon.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                        • 12th May, Terra, Twitter<\/a>: \"The primary obstacle is expelling the bad debt from UST circulation at a clip fast enough for the system to restore the health of on-chain spreads\" adding \"To expedite this goal, several measures are being taken. First, the current Prop 1164<\/a> will expand the base pool size and accelerate the burn rate of UST \u2013 helping deflate on-chain spreads.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                                                          • 12th May, Terra, Twitter<\/a>: \"TFL is also initiating three more emergency actions: 1. Proposal to burn the remaining UST in the community pool. 2. TFL will burn the remaining 371 million UST cross-chain on Ethereum. 3. TFL just staked 240 million $LUNA to defend from network governance attacks.\"<\/li><\/ul>\n\n\n\n
                                                                                                                                                                            • 14th May, Do Kwon, Twitter<\/a>: \"There are multiple proposals on Agora on the best steps to move forward for the community\" This is in relation to possible recovery plans submitted on Agora, Terras Research Forum.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                              • 17th May, Do Kwon, Twitter<\/a>: \"The Terra chain as it currently exists should be forked into a new chain without algorithmic stablecoins called \u201cTerra\u201d (token Luna - $LUNA), and the old chain be called \u201cTerra Classic\u201d (token Luna Classic - $LUNC). Both chains will coexist.\" Do Kwon announces plans of a fork, although this has been met with mixed opinions so far.<\/li><\/ul>\n\n\n\n

                                                                                                                                                                                The Repercussions<\/h2>\n\n\n\n

                                                                                                                                                                                • A report<\/a> from The Block discovered that Terra\u2019s in-house legal team had resigned following the collapse of UST and LUNA.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                  • Do Kwon has been summoned by the South Korean Congress to testify on the collapse of UST and LUNA, according to local reports from Newspim<\/a>.<\/li><\/ul>\n\n\n\n

                                                                                                                                                                                    <\/p>\n","post_title":"The 'Terra'ble Fate Of $UST And Its Sister Coin, $LUNA","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-terrable-fate-of-ust-and-its-sister-coin-luna","to_ping":"","pinged":"","post_modified":"2023-04-30 21:35:38","post_modified_gmt":"2023-04-30 11:35:38","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4998","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4844,"post_author":"1","post_date":"2022-05-06 22:58:19","post_date_gmt":"2022-05-06 12:58:19","post_content":"\n

                                                                                                                                                                                    The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a> has overtaken Tesla as the company with the 2nd highest Bitcoin reserves, only behind Microstrategy.<\/p>\n\n\n\n

                                                                                                                                                                                    • The LFG now holds 80,394 BTC after a recent purchase of 37,863 BTC ($1.5 billion) according to a press release<\/a>. Prior to the purchase LFG stockpiled over 40,000 BTC<\/a>, holding a total of 42,530 BTC in their wallet<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                      • Currently, Tesla Motors has a stockpile<\/a> of 43,200 BTC, which means the LFG has successfully passed Teslas Bitcoin holdings. <\/li><\/ul>\n\n\n\n
                                                                                                                                                                                        • LFG acquired over $1 billion worth of Bitcoin in an over-the-counter transaction with broker, Genesis. The trade consisted of swapping $UST for $BTC according to Bitcoin Magazine<\/a>. The remaining $500 million was bought, with cryptocurrency hedge Three Arrows Capital (3AC) facilitating<\/a> the trade.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                          • The recent purchase of more Bitcoin supports Terra CEO, Do Kwon's vision to acquire over $10 billion in Bitcoin and \u201copen a new monetary era of the bitcoin standard.\u201d<\/li><\/ul>\n\n\n\n

                                                                                                                                                                                            \nhttps:\/\/twitter.com\/stablekwon\/status\/1522350584430428160\n<\/div><\/figure>\n\n\n\n

                                                                                                                                                                                            ---

                                                                                                                                                                                            \n\n\n\n

                                                                                                                                                                                            The Distributed Disclaimer<\/strong><\/p>\n\n\n\n

                                                                                                                                                                                            Opinions and information expressed through The Distributed is not investment advice. Any action a reader may take upon the information on our website is at their own risk. The Distributed does not recommend any buying, selling, or holding of cryptocurrencies and digital assets.<\/p>\n","post_title":"Luna Foundation Now Has More Bitcoin In Its Reserves Than Tesla","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-now-has-more-bitcoin-in-its-reserves-than-tesla","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/stablecoins","post_modified":"2023-04-30 21:35:52","post_modified_gmt":"2023-04-30 11:35:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4844","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4298,"post_author":"1","post_date":"2022-04-11 20:05:09","post_date_gmt":"2022-04-11 10:05:09","post_content":"\n

                                                                                                                                                                                            The Luna Foundation Guard (LFG)<\/a>, the treasury backing the TerraUSD ($UST<\/a>) stablecoin<\/a>, holds almost 40,000 Bitcoins.<\/p>\n\n\n\n

                                                                                                                                                                                            The LFG wallet<\/a> holds 39,897.98 bitcoins. This stockpile is worth around $1.67 billion. The LFG has added over $400 million in assets to its treasury over the past week.<\/p>\n\n\n\n

                                                                                                                                                                                            On April 6th it purchased $230 million of $BTC<\/a>.<\/p>\n\n\n\n

                                                                                                                                                                                            On April 8th it purchased $200 million in $AVAX<\/a>.<\/p>\n\n\n\n

                                                                                                                                                                                            Do Kwon, founder, and CEO of Terraform Labs, stated that the LFG plans to acquire over $10 billion in BTC. In hopes to \u201copen a new monetary era of the bitcoin standard.\u201d<\/p>\n\n\n\n

                                                                                                                                                                                            \nhttps:\/\/twitter.com\/stablekwon\/status\/1503296630396645376\n<\/div><\/figure>\n\n\n\n

                                                                                                                                                                                            LFG is well on its way to the goal of $10 billion worth of BTC in its reserves. Is this a goal achievable this year, or for the coming years?<\/p>\n","post_title":"Luna Foundation Treasury Has Stockpiled Almost 40,000 BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"luna-foundation-treasury-has-stockpiled-almost-40000-btc","to_ping":"","pinged":"","post_modified":"2023-04-30 21:37:18","post_modified_gmt":"2023-04-30 11:37:18","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4298","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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                                                                                                                                                                                            • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n

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                                                                                                                                                                                              \n
                                                                                                                                                                                              • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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                                                                                                                                                                                                  \n
                                                                                                                                                                                                  • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                    • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                      • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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                                                                                                                                                                                                        \n
                                                                                                                                                                                                        • Holders of UST were able to stake their coins on Anchor Protocol, a site that provided users with a 20% variable rate. It is within Anchor that 75% of all UST was held up until the crash, this accounted for over US$14 billion according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                          • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                            • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                              • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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                                                                                                                                                                                                                \n
                                                                                                                                                                                                                • Terra ($LUNA) acts as a reserve currency to algorithmically stabilize various stablecoins<\/a> including TerraUSD ($UST). For every 1 UST that was minted, 1 USD worth of LUNA was burned.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                  • Holders of UST were able to stake their coins on Anchor Protocol, a site that provided users with a 20% variable rate. It is within Anchor that 75% of all UST was held up until the crash, this accounted for over US$14 billion according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                    • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                      • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                        • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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                                                                                                                                                                                                                          Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

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                                                                                                                                                                                                                          \n

                                                                                                                                                                                                                          The De-Pegging<\/h2>\n\n\n\n

                                                                                                                                                                                                                          • Terra ($LUNA) acts as a reserve currency to algorithmically stabilize various stablecoins<\/a> including TerraUSD ($UST). For every 1 UST that was minted, 1 USD worth of LUNA was burned.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                            • Holders of UST were able to stake their coins on Anchor Protocol, a site that provided users with a 20% variable rate. It is within Anchor that 75% of all UST was held up until the crash, this accounted for over US$14 billion according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                              • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                  • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

                                                                                                                                                                                                                                    Most Read

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                                                                                                                                                                                                                                    December 24, 2022 - Updated on April 10, 2023

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                                                                                                                                                                                                                                    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry

                                                                                                                                                                                                                                    November 24, 2024

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                                                                                                                                                                                                                                    By subscribing, you agree with our privacy and terms.

                                                                                                                                                                                                                                    Type your email here

                                                                                                                                                                                                                                    >

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                                                                                                                                                                                                                                    ADVERTISEMENT
                                                                                                                                                                                                                                    \n

                                                                                                                                                                                                                                    If you've been in the cryptocurrency space you would've heard about how one of the largest coins just last week fell from a high of $120 to a low of $0.000000999967, a 100% loss in the span of 7 days.<\/p>\n\n\n\n

                                                                                                                                                                                                                                    The De-Pegging<\/h2>\n\n\n\n

                                                                                                                                                                                                                                    • Terra ($LUNA) acts as a reserve currency to algorithmically stabilize various stablecoins<\/a> including TerraUSD ($UST). For every 1 UST that was minted, 1 USD worth of LUNA was burned.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                      • Holders of UST were able to stake their coins on Anchor Protocol, a site that provided users with a 20% variable rate. It is within Anchor that 75% of all UST was held up until the crash, this accounted for over US$14 billion according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                        • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                          • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                            • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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                                                                                                                                                                                                                                              <\/p>\n","post_title":"Terra 2.0 Is Down 75% Since Its Launch","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"terra-2-0-is-down-75-since-its-launch","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/the-terrable-fate-of-ust-and-its-sister-coin-luna\/","post_modified":"2023-04-30 21:34:51","post_modified_gmt":"2023-04-30 11:34:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5305","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4998,"post_author":"1","post_date":"2022-05-18 21:12:58","post_date_gmt":"2022-05-18 11:12:58","post_content":"\n

                                                                                                                                                                                                                                              If you've been in the cryptocurrency space you would've heard about how one of the largest coins just last week fell from a high of $120 to a low of $0.000000999967, a 100% loss in the span of 7 days.<\/p>\n\n\n\n

                                                                                                                                                                                                                                              The De-Pegging<\/h2>\n\n\n\n

                                                                                                                                                                                                                                              • Terra ($LUNA) acts as a reserve currency to algorithmically stabilize various stablecoins<\/a> including TerraUSD ($UST). For every 1 UST that was minted, 1 USD worth of LUNA was burned.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                                • Holders of UST were able to stake their coins on Anchor Protocol, a site that provided users with a 20% variable rate. It is within Anchor that 75% of all UST was held up until the crash, this accounted for over US$14 billion according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                                  • UST was de-pegged from its 'stable' price of $1, this was caused by a major sell-off which caused UST to drop below $0.69. This sudden surge in UST caused supply to exceed demand which broke the algorithm that keeps the coin at $1.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                                    • Fear and uncertainty washed over markets, with rumors<\/a> that big players<\/a> were behind the sell-offs which caused the crash. As people started selling their coins and liquidating their UST from Anchor, the supply of UST surged even further causing the price to drop even more as the balancing mechanism started to get overwhelmed, causing its failure.<\/li><\/ul>\n\n\n\n
                                                                                                                                                                                                                                                      • As of the time of writing, UST is trading at $0.1177 and $LUNA is trading at $0.0001796 according to data from CoinMarketCap.<\/li><\/ul>\n\n\n\n

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