Luna Foundation Guard says its Bitcoin reserves are down to 313 from over 80,000, and it will use ‘remaining assets’ to pay back ‘smallest’ stablecoin holders

May 16, 2022

The Luna Foundation Guard (LFG), an organization that supports the Terra ecosystem, shared a breakdown of its remaining assets on Monday.

8/ As of now, the Foundation’s remaining reserves consist of the following assets:
· 313 $BTC
· 39,914 $BNB
· 1,973,554 $AVAX
· 1,847,079,725 $UST
· 222,713,007 $LUNA (of which 221,021,746 is currently staked with validators)
— LFG | Luna Foundation Guard (@LFG_org) May 16, 2022

Last week, Terra’s stablecoin UST began to crash far below $1, and its sister token Luna unraveled to nearly zero. Amid the chaos, many investors were wondering where LFG’s billions worth of Bitcoin went, which it originally obtained to defend UST’s peg.

Now, after days of silence, LFG shared that it has 313 Bitcoin left, down from its original 80,394 Bitcoin reserve. LFG also noted it has a few other assets, including UST, Terra and Avalanche.

Read more: https://finance.yahoo.com/news/luna-foundation-guard-says-bitcoin-140917497.html

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