Luna Foundation Guard Prepares $1,500,000,000 in Bitcoin (BTC) and TerraUSD (UST) To Protect Stablecoin Peg

Luna Foundation Guard Prepares $1,500,000,000 in Bitcoin (BTC) and TerraUSD (UST) To Protect Stablecoin Peg


As TerraUSD (UST) plummets in value, the Luna Foundation Guard says it’s preparing $1.5 billion in Bitcoin and UST to address market concerns about the stablecoin.

UST, a stablecoin designed to be pegged to the US dollar (USD), is trading for $0.75 at time of writing, down more than 24% in the past day.

Though designed to keep an equal value to the USD, UST first fell below $1.00 on Saturday before collapsing on Monday.

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The LFG, a non-profit organization built to support the Terra (LUNA) ecosystem, says it will “proactively defend the stability of the UST peg and broader Terra economy.”

“As a result, the LFG Council has voted to execute the following:

– Loan $750 million worth of BTC to OTC [over-the-counter] trading

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