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Ethereum World News 2022-05-10 09:19:11

Luna Foundation Guard Drains Bitcoin Treasury To Save UST Peg

The Luna Foundation Guard used $1.5 billion from its treasury to help project the $1 peg of UST. $750 million worth of bitcoin has been budgeted for OTC trading firms. Binance has suspended withdrawals of LUNA and UST until trading volume reduces. The Luna Foundation Guard, which acts as the treasury for the Terra project, has used its vast hoardings of BTC to save the $1 peg of its UST stablecoin. In total, the Luna Foundation Guard has allocated about […]

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